P ITEM 18.
An Ordinance authorizing the issuance of City of Birmingham General Obligation Refunding Warrants, Series 2010-A in the principal amount $63,540,000.00. [First Reading] (Recommended by
the Acting Chief Assistant City Attorney·Dec 7, 2010
under reviewLegal & Settlements
$63.5M$$$$, Red tier (over $1 million)
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If approved, the city would pay up to $90,000 to resolve the legal claim filed by Outpatient Services East. The settlement would be funded from the general fund.
The city would receive payment for property damage caused by a State Farm-insured driver in June 2025. If approved, the Mayor would be authorized to finalize the settlement and resolve the claim.
If approved, would allow the city to rebate up to $1.5 million in state lodging and local sales taxes generated by a new hotel development. The rebate would support Parkside Hotel Partners' project under the state Tourism Investment Act.
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