Title
Resolution - Approval of Authorization for Settlement of Litigation - D Ballard
Other Info
Submitted By: Sylvia Romero
Department: General Counsel
Financial Impact and Cost/Benefit Considerations: As discussed today in executive session.
Discussion
In April 2019, Pedernales Electric Cooperative, Inc. (the “Cooperative”) initiated a condemnation suit in Hays County. The Cooperative may consider settlement of the litigation 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 and execute, acknowledge and deliver any such documents, and otherwise take any actions as needed to implement this resolution.