Fiscal Note
This resolution allows for the replacement of playground equipment destroyed by arson at Eken Park. Total project costs are estimated at $29,325. Of this amount, $28,825 will be reimbursed by insurance proceeds, and the remaining $500 deductible absorbed as an expense within the Parks 2008 Operating Budget. No additional General Obligation Debt is required.
Title
Amending the 2008 Parks Division Capital Budget for coverage from the insurance fund for the replacement of playground equipment destroyed by a fire.
Body
WHEREAS, on November 16, 2007 a fire was deliberately set at Eken Park that engulfed and destroyed playground equipment, and
WHEREAS, the City of Madison's Risk Manager has filed an insurance claim and received monies for removal of the damaged equipment, and
WHEREAS, the City Risk Manager will file a claim for the invoice of the replacement equipment.
NOW, THEREFORE, BE IT RESOLVED THAT, the Parks Division of 2008 Capital Budget be amended by the amount of the invoice of the replacement equipment and allow Parks Division to purchase replacement equipment, and
BE IT FURTHER RESOLVED, that the Parks Division purchase the replacement equipment and services to remove damaged equipment for the amount of $29,325.00, and
BE IT STILL FURTHER RESOLVED, that the account CP60-58599-810405-00-0000000-60223N00 be increased by proposed invoice amount less deductible for the equipment replacement, and
BE IT FINALLY RESOLVED, that the funds be transferred from the insurance fund to Parks Division Capital account CP60-58599-810405-00-0000000-60223N00.