Dept/ Agency: Administration/Office of Management and Budget Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Temporary Emergency Appropriation Purpose: To provide funds for all Interest and Debt Redemption Charges for Year 2017 Funding Source: City of Newark Budget Appropriation Amount: $72,155,491.00 Budget Year: 2017 Contract Period: January 1, 2017 to December 31, 2017 Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a Additional Information: Funds accepted by Resolution Operating Agency: All Departments Two-Thirds vote of full membership required.