Dept/ Agency: Administration/Office of Management & 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 2016 Funding Source: City of Newark Budget Appropriation Amount: $57,793,453.00 Budget Year: 2016 Contract Period: January 1, 2016 through December 31, 2016 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 # n/a Operating Agency: All Departments Two-Thirds vote of full membership required.