Title
Resolution - Approval of Authorization for Initiation, Settlement, or Disposition of Litigation Matter(s) - A Stover
Other Info
Submitted By: Andrea Stover
Department: General Counsel
Financial Impact and Cost/Benefit Considerations: As discussed in Executive Session.
Discussion
Pedernales Electric Cooperative, Inc. (the Cooperative) is a defendant in a pending litigation matter, Seven Custom Homes, Inc. v. Pedernales Electric Cooperative, Inc., Cause No. D-1-GN-24-009043, in the 261st Judicial District Court of Travis County, Texas. The Cooperative has negotiated a settlement with the plaintiff with terms discussed in Executive Session, that would resolve all aspects of the litigation. The terms of the settlement are reasonable and resolution of the litigation pursuant to the terms of the settlement are in the best interest of the Cooperative.
Body
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE COOPERATIVE that the Cooperative is authorized to settle the matter styled Seven Custom Homes, Inc. v. Pedernales Electric Cooperative, Inc., Cause No. D-1-GN-24-009043, in the 261st Judicial District Court of Travis County, Texas, pursuant to the settlement terms discussed 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 take any actions necessary to implement this resolution.