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File #: 210872    Version:
Type: Resolution Status: Passed
File created: 9/21/2021 In control: COMMON COUNCIL
On agenda: Final action: 10/12/2021
Effective date:    
Title: Substitute resolution reserving and appropriating up to $500,000 from the 2021 Common Council Contingent Fund to the 2021 Damages & Claims Fund Special Purpose Accounts.
Sponsors: THE CHAIR
Indexes: CONTINGENT FUND
Attachments: 1. Cover Letter, 2. Hearing Notice List

Number

210872

Version

SUBSTITUTE 1

Reference

 

Sponsor

THE CHAIR

 

Title

Substitute resolution reserving and appropriating up to $500,000 from the 2021 Common Council Contingent Fund to the 2021 Damages & Claims Fund Special Purpose Accounts.

 

Analysis

This resolution reserves and appropriates $500,000 from the 2021 Common Council Contingent Fund for the purpose of meeting financial obligations related to claims and litigation brought against the City.

 

Body

 

Whereas, Settlements and payment of judgments in 2021 will exceed the appropriation for the Damages & Claims Fund Special Purpose Account (SPA); and

 

Whereas, The 2021 Damages & Claims Fund SPA has been depleted by settlements and judgments previously approved by the Common Council: and

 

Whereas, It is estimated that a minimum of $398,000 of additional appropriations are necessary to meet the City’s obligations in the Damages and Claims Fund SPA; and

 

Whereas, a separate file, Common Council Resolution 210873, will approve Contingent Borrowing for the remaining needs in the Damages and Claims Fund SPA; now, therefore, be it

 

Resolved, By the Common Council of the City of Milwaukee, that up to $500,000 from the 2021 Common Council Contingent Fund (0001-9990-C001-006300-2021) shall be reserved and appropriated to the Damages and Claims Fund (0001-1490-S118-006300-2021); and, be it

 

Further Resolved, That the City Comptroller and other appropriate City officials are directed to take all actions necessary to fulfill the intent of this resolution.

 

Requestor

DOA Budget and Management Division, City Attorney

Drafter

Molly King

September 29, 2021

Finance/Resolutions/2021Resolutions/Contingent Fund-Damages and Claims.rtf