CC Resolution 1994-030^ F RESOLUTION NO. 94-30
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LA QUINTA
APPROVING SETTLEMENT AGREEMENT AND MUTUAL RELEASE BY
AND BETWEEN*EN THE CITY OF LA QUINTA AND THE LA QUINTA
REDEVELOPMENT AGENCY ON THE ONE HAND, AND THE CITY OF
MARSHALL TOWN ON THE OTHER HAND CONCERNING FUNDS IN
DISPUTE RELATIVE TO DENMAN AND COMPANY, INSTITUTIONAL
TREASURY MANAGEMENT, INC., AND REFCO ENTITIES
WHEREAS, the *`i*; 0 *a Quinta and the La Quinta Redevelopment Agency have
negotiated settlement with * of Marshailtown with respect to the funds in dispute relative
to Denman and Comp*iy *tu ional Treasury Management, Inc., and REFCO entities; and
WHEREAS, the * Settlement Agreement Exhibit A") sets forth the agreement of
the parties with respect tc I y and Agency claim to the City of Marshalitown, said claim
related to the investmer.t *f City monies with Denman & Company and IThI; and
NOW, THEREF*R.*, * IT RESOLVED, by the City Council of the City of La Quinta
as follows:
Section 1: * Sett;ement Agreement and Mutual Release is hereby approved
and ratified by the City of La Qi'.inta as a formal agreement to be executed by the Mayor and
City Clerk on behalf of the C;L) of La Quinta.
Section 2: The provisions of the Settlement Agreement are in the best interests of the
City of La Quinta in resolving existing disputes and reducing related litigation expenses.
Section 3: The Mayor and City Cle*k are hereby directed to execute the attached
Settlement Agreement and Mutual Release on behalf of the City of La Quinta.
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^ F I.
PASSED, APPROVED AND ADOPTED this 5th day of April 1994 by the
following vote:
AYES: Council Members Bangerter, Mccartney, Perkins, Sniff,
Mayor Pena
NOES: None
ABSENT: None
ABSTAIN: None
City of La Quinta, California
AUNDRA L. JUHOL City Clerk
City of La Quinta, California
APPROVED AS TO FORM:
DAWN C. HONE*L, City Attorney
Stradling, Yocca, Carison & Rauth
M.y 11,1994
pUBL13141*1 i87I*5SS.O 2
BIB]
08-18-1998-U01
09:35:50AM-U01
ADMIN-U01
CCRES-U02
94-U02
30-U02