Res 0298-2018

By Council Member Dromm Whereas, At a meeting of the Committee on Finance of the City Council of the City of New York (the "City Council") on April 10, 2018, the Committee on Finance considered a communication, dated March 16, 2018, from the Office of Management and Budget of the Mayor of the City of New York (the "Mayor"), of a proposed request to recognize a net increase in revenue pursuant to Section 107(e) of the Charter of the City of New York (the "Charter"), attached hereto as Exhibit A (the "Request to Appropriate"); and Whereas, Section 107(e) of the Charter requires the City Council and the Mayor to follow the procedures and required approvals pursuant to Sections 254, 255, and 256 of the Charter, without regard to the dates specified therein, in the case of the proposed appropriation of any new revenues and the creation of new units of appropriation; and Whereas, Section 107(e) of the Charter requires that any request by the Mayor respecting an amendment of the budget that involves an increase in the budget shall be accompanied by a statement of the source of current revenues or other identifiable and currently available funds required for the payment of such additional amounts, attached hereto as Exhibit B (together with the Request to Appropriate, the "Revenue Modification"); NOW, THEREFORE, The Council of the City of New York hereby resolves as follows: 1. Approval of Modification. The City Council hereby approves the Revenue Modification pursuant to Section 107(e) of the Charter. 2. Further Actions. The City Council directs the City Clerk to forward a certified copy of this resolution to the Mayor and the Comptroller as soon as practicable so that the Mayor, the Comptroller and the City Clerk may certify the Fiscal 2018 Expense Budget as amended by this resolution as the budget for the remainder of the fiscal year. 3. Effective Date. This resolution shall take effect as of the date hereof. I hereby certify that the foregoing is a true and complete copy of a resolution adopted by the Council of the City of New York on _______________ on file in this office. _____________________________ Clerk of The Council of The City of New York