Title
Pertaining to a 2023 Budget Amendment No. 9 to record the increase in spending due to the Settlement Agreement with American Guarantee and Liability Insurance Company as subrogee of Health Partners, Inc.
Body
WHEREAS, the Board of Water Commissioners of the City of Saint Paul (“Board”) adopted its 2023 budget in September 2022; and;
WHEREAS, at its December 12, 2023 meeting, the Board approved a settlement agreement in the case captioned American Guarantee and Liability Insurance Company as subrogee of HealthPartners, Inc v. City of Saint Paul, Board of Water Commissioners and Saint Paul Regional Water Services, Case No. 62-CV-23-4109 which requires a budget amendment to issue payment; and
WHEREAS, the total amount needed for 2023 increase in spending is $1,175,000 which will be financed from use of fund balance; now, therefore, be it
RESOLVED, that the Board of Water Commissioners does hereby recommend amendment to its 2023 Adopted Budget, resulting in an increase of spending of $1,175,000 to the 2023 Adopted Budget, resulting in an amended budget of $114,767,239 the details of such are attached, and does recommend approval by the Saint Paul City Council.