City of Pittsburgh - File #: 2018-0049

• File #: 2018-0049
• Version: 1
• Type: Resolution
• Status: Passed Finally
• File created: 1/26/2018
• In control: Committee on Finance and Law
• On agenda: 1/30/2018
• Final action: 2/6/2018
• Enactment date: 2/6/2018
• Enactment #: 48
• Effective date: 2/15/2018
• Title: Resolution authorizing the issuance of a warrant in favor of NFP Structured Settlements, to a designated trust account in an amount not to exceed Five Million Five Hundred Thousand Dollars ($5,500,000.00) in full and final settlement of litigation pertaining to police matters, the payment schedule of said amount to occur in three phases as follows: (i) $2 million to be paid in 2018 after approval of this Resolution; (ii) $2 million to be paid in 2019; and (iii) $1.5 million to be paid in 2020. (Executive Session held 1-30-18)
• Indexes: WARRANT

Date	Ver.	Action By	Action	Result
2/15/2018	1	Mayor	Signed by the Mayor
2/6/2018	1	City Council	Passed Finally	Pass
1/31/2018	1	Standing Committee	Affirmatively Recommended	Pass
1/30/2018	1	City Council	Read and referred
1/30/2018	1	City Council	Waived under Rule 8	Pass

title

Resolution authorizing the issuance of a warrant in favor of NFP Structured Settlements, to a designated trust account in an amount not to exceed Five Million Five Hundred Thousand Dollars ($5,500,000.00) in full and final settlement of litigation pertaining to police matters, the payment schedule of said amount to occur in three phases as follows: (i) $2 million to be paid in 2018 after approval of this Resolution; (ii) $2 million to be paid in 2019; and (iii) $1.5 million to be paid in 2020.

(Executive Session held 1-30-18)

body

Be it resolved by the Council of the City of Pittsburgh as follows:

Section 1.                     Resolution authorizing the issuance of a warrant in favor of NFP Structured Settlements, to a designated trust account in an amount not to exceed Five Million Five Hundred Thousand Dollars ($5,500,000.00) in full and final settlement of litigation pertaining to police matters, the payment schedule of said amount to occur in three phases as follows: (i) $2 million to be paid after approval of this Resolution; (ii) $2 million to be paid in 2019; and (iii) $1.5 million to be paid in 2020, chargeable to and payable as follows: 

2018 payment of $2 million to be paid from 11101.58.58105.108000, Item No. 11111-44

2019 payment of $2 million to be paid from 11101.58.58105.108000, Item No. 11111-44

2020 payment of $1.5 million to be paid from 11101.58.58105.108000, Item No. 11111-44