RDA Resolution 1994-05^" I
RESOLUTION NO. RA 94-5
A RESOLUTION OF THE AGENCY BOARD OF THE LA QUINTA
REDEVELOPMENT AGENCY APPROVING SETTLEMENT AGREEMENT
AND MUTUAL RELEASE BY AND BETWEEN THE CITY OF LA QUINTA
AND THE LA QUINTA REDEVELOPMENT AGENCY ON THE ONE HAND,
AND THE CITY OF MARSHALLTOWN ON THE OTHER HAND
CONCERNING FUNDS IN DISPUTE RELATIVE TO DENMAN AND
COMPANY, INSTITUTIONAL TREASURY MANAGEMENT, INC., AN'D
REFCO ENTITIES
WHEREAS, the City of La Quinta and the. La Quinta Redr.-*e!opment Agency have
negotiated settlement with the City of MARSHALLTOWN with *respect * the funds in dispute relative
to Denman and Company, Institutional Treasury Ma*i:gement, Inc., and REFCO entities; and
WHEREAS, the attached Settlement Agreement Exhibit A") sets forth the agreement of
the parties with respect to the City and Agency claim to the City of MARSHALLTOWN, said claim
related to the investment of City monies with Denman & Company and ITM; and
NOW, THEREFORE, BE IT RESOLVED, by the Agency Board of the La Quinta
Redevelopment Agency as follows:
Section 1: The attached Settlement Agreement and Mutual Release is hereby approved
and ratified by the La Quinta Redevelopment Agency as a formal agreement to be executed by
the Chairman and Secretary on behalf of the Agency.
Section 2: The provisions of the Settlement Agreement are in the best interests of the
City of La Quinta and the La Quinta Redevelopment Agency in resolving existing disputes and
reducing related litigation expenses.
Section 3: The Chairman and Secretary are hereby directed to execute the attached
Settlement Agreement and Mutual Release on behalf of the Agency.
11. 1*
PUBL:13141 I 1s7lB258a.o
BIB]
11-03-1997-U01
11:05:46AM-U01
ADMIN-U01
RDARES-U02
94-U02
05-U02
^" I
RESOLUTION NO. RA 94-5
PASSED, APPROVED AND ADOPTED this 5th day of April *994 by the
following vote:
AYES: Board Members Bangerter, McCartney, Pena, Perkins
Chairman Sniff
NOES: None
ABSENT: None
ABSTAIN: None
La Quinta Redevelopment Agency, California
AT ST
SAUNDRA L. JUH Agency Secretary
La Quinta Redevelopment Agency, California
APPROVED AS TO FORM:
DAWN C HONE YWELL, Agency Counsel
Stradling, Yocca, Carlson & Rauth
M.y Ii 1994
PuBL.'13141*1l 187I*588.O 2
BIB]
11-03-1997-U01
11:05:46AM-U01
ADMIN-U01
RDARES-U02
94-U02
05-U02