Title
Resolution - Approval of Authorization for Settlement of Litigation Matter(s)
Other Info
Submitted By: Don Ballard
Department: General Counsel
Financial Impact and Cost/Benefit Considerations: As discussed in Executive Session.
Discussion
In January 2019, Pedernales Electric Cooperative, Inc. (the “Cooperative”) initiated condemnation proceedings in Blanco County with respect to the Wirtz to Mountain Top transmission line. The Cooperative may consider settlement of these litigation matters on the terms discussed this day in Executive Session and permit the Chief Executive Officer or designees to negotiate any other terms as may be necessary.
Body
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE COOPERATIVE that the Cooperative is authorized to settle certain litigation that involves the Cooperative on the terms discussed this day in Executive Session, and
BE IT FURTHER RESOLVED BY THE BOARD OF DIRECTORS OF THE COOPERATIVE that the Chief Executive Officer, or designees, are hereby authorized to negotiate any other terms as necessary for disposition of the litigation matters and execute, acknowledge and deliver any such documents, and otherwise take any actions as needed to implement this resolution.