HomeMy Public PortalAboutAB 08-72 Repeal Authorization for BankruptcyMcCALL CITY COUNCIL
AGENDA BILL
Number
Meeting Date
216 East Park Street
McCall, ID 83638
AB 08-72
April 24, 2008
AGENDA ITEM INFORMATION
SUBJECT:
Repeal of Resolution 08-4, which authorized the City
to file Chapter 9 Bankruptcy for the City of McCall
Approvals: Department/
Committee/Individual
Initials
Remarks
(Originator/
Support)
Mayor / Council
City Manager
originator
Community Development
Treasurer
Clerk, Deputy City Clerk
Police Department
Public Works
Golf Operations
COST IMPACT: none
Parks & Recreation
FUNDING SOURCE: n/a
Airport
Library
TIMELINE: ASAP
City Attorney
Grant Coordinator
SUMMARY STATEMENT:
On February 25, 2008, the
and St. Claire, by issuing a
judicial confirmation and
Reorganization bankruptcy
Note attachments:
(1) Resolution 08-8: Repeal
(2) Resolution 08-4: Resolution
City received judicial confirmation
warrant for $7.1 million, and
to pay the balance of the judgment to Wausau
to issue a revenue bond to redeem the warrant. The
do not warrant filing a Chapter 9 Municipal
08-04, adopted February 25, 2008.
Chapter 9 Bankruptcy
the present circumstances
as authorized by Resolution No.
of Resolution 08-4
Authorizing the City to File
RECOMMENDED ACTION:
Adopt Resolution 08-8.
RECORD OF COUNCIL ACTION
Meeting Date
ACTION
February 25, 2008
Resolution 08-4 was adopted.