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Committee reviews three sinking-fund resolutions to pay judgments totaling $200,000; council action expected
Summary
City finance and legal staff presented three resolutions asking the City Council to authorize $100,000, $75,000 and $25,000 payments from the sinking fund to settle judgments arising from vehicle collisions and a stormwater incident.
The Urban and Economic Development Committee heard presentations on three sinking-fund resolutions authorizing payments to plaintiffs in separate judgment cases. City finance and legal staff described the cases and recommended council approval; the full council was expected to consider the resolutions at a future meeting.
Chad Becker of the Treasury confirmed the sinking fund had sufficient cash to cover the payments and reported a current sinking-fund balance of about $68.8 million. "Current sinking fund balance,…
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