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Approving Transfer and Payment in Accordance to the Agreed Order for Case No. 13 L 134
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WHEREAS, The Agreed Order for Case No. 13 L 134 (Agreed Order) settled a dispute between the Village of Campton Hills, Comcast of Illinois, and Kane County (Attachment A); and
WHEREAS, per the Agreed Order, Comcast of Illinois deducted franchise fees in the amount of $50,000.00 per year from 2020 through 2023; and
WHEREAS, in order to replace the lost revenue from this court case, the County transferred $50,000 in 2020, 2022, and 2023 from the Insurance Liability Fund to the General Fund, leaving $50,000 to be transferred for 2021 which would require a budget adjustment, and
WHEREAS, per the Agreed Order, a balloon payment of $210,243.73 is due to Comcast of Illinois in 2024 and a budget adjustment is required; and
NOW, THEREFORE, BE IT RESOLVED by the Kane County Board that $50,000.00 be transferred from the Insurance Liability Fund #010 Account 53000 Liability Insurance to the General Fund #001, Account 34710 Cable Franchise Fees with the related budget adjustment:
001.000.000.39900 Fund Balance Utilization $50,000
001.690.000.34710 Cable Franchise Fees $50,000
010.120.130.53000 Liability Insurance $50,000
010.000.000.39900 Fund Balance Utilization $50,000
BE IT FURTHER RESOLVED, by the Kane County Board that the balloon payment of $210,243.73 be paid to Comcast of Illinois from the Insurance Liability Fund # 010 Account 53000 Liability Insurance with the related budget adjustment:
010.120.130.53000 Liability Insurance $210,243.73
010.000.000.39900 Fund Balance Utilization $210,243.73
Line Item: various, see resolution
Line Item Description: various, see resolution
Was Personnel/Item/Service approved in original budget or a subsequent budget revision? No
Are funds currently available for this Personnel/Item/Service in...
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