Dept/ Agency: Administration/Office of Management & Budget Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Temporary Appropriation Resolution for Water Utility Debt Service Purpose: Provide funds for Debt Service for the Water Utility for 2016 Funding Source: City of Newark/Water Utility Appropriation Amount: $4,459,561.00 Budget Year: 2016 Contract Period: N/A 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: Water Utility Two-Thirds vote of full membership required.