City of Milwaukee - File #: 150751

• File #: 150751
• Version: 0
• Type: Resolution
• Status: Passed
• File created: 9/22/2015
• In control: COMMON COUNCIL
• Final action: 11/3/2015
• Title: Resolution authorizing a further Tax Stabilization Fund withdrawal for 2016.
• Sponsors: THE CHAIR
• Indexes: APPROPRIATIONS AND EXPENDITURES, MUNICIPAL FINANCE

Date	Ver.	Action By	Action	Result	Tally
11/11/2015	0	MAYOR	SIGNED
11/3/2015	0	COMMON COUNCIL	ADOPTED; Minutes note: This file was held and further considered later in the meeting, after item 22. This resolution authorizes a further Tax Stabilization Fund withdrawal for 2016 in the amount of $10,674,324.	Pass	15:0
10/27/2015	0	FINANCE & PERSONNEL COMMITTEE	REFERRED WITHOUT RECOMMENDATION AND ASSIGNED TO	Pass	5:0
10/21/2015	0	FINANCE & PERSONNEL COMMITTEE	HEARING NOTICES SENT
9/22/2015	0	COMMON COUNCIL	ASSIGNED TO

Number

150751

Version

ORIGINAL

Reference

Sponsor

THE CHAIR

Title

Resolution authorizing a further Tax Stabilization Fund withdrawal for 2016.

Body

Whereas, For the 2016 budget, the Common Council intends to authorize a withdrawal in excess of that permitted by Section 304-29-4 a and b of the Milwaukee Code; and

Whereas, This additional withdrawal is permitted, with certain restrictions, by Section 304-29-4 c and d of the Milwaukee Code; and

Whereas, The Council fully intends to comply with restrictions in authorizing such additional withdrawal; now, therefore, be it

Resolved, By the Common Council of the City of Milwaukee, That for 2016 budget purposes, $0 be withdrawn from the Tax Stabilization Fund to accomplish the policy objective authorized in Sub-Section 4 c and 4d of Section 304-29 of the Milwaukee Code of Ordinances; and, be it

Further Resolved, That any computation of the exact amount of withdrawal should accurately reflect the policy intent with the restrictions imposed by Sub-Section 4 c and 4d of Section 304-29 of the Milwaukee Code; and, be it

Further Resolved, That the Budget and Management Director is directed to compute and insert the exact dollar amount of this additional withdrawal from the Tax Stabilization Fund on the appropriate lines in the official budget document; and, be it

Further Resolved, That the Budget and Management Director is authorized and directed to correct, if needed, the amount of the withdrawal shown in the budget on the line “Tax Stabilization Fund Withdrawal” to reflect the maximum amount permitted by ordinance.

Requestor

Budget and Management Division

Drafter

Ref: 2016 BF, 3B; DY:

September 21, 2015

16budget/2016budgetresolutions/TSF4cdr.RTF