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<br />cizY OF rr9RTx oLMSrEn
<br />RE34LUTIUI4l" NC}, 64- 2- 6 O
<br />BY
<br />A RESQLUTI4N A,UTHOtXIZING THE UIREG'TC'?R 4P LAW TC1
<br />SETTLE THE LA1NS'UIT EPdTITLED Ai1miRDEI Ct3NMCTING
<br />Cl?MPAAtY INC,, QUAKER ENGiNEERING & 3UPPLY CO..
<br />ANI7 KALTL HADDAI) CflNSTRUt?TiC„1N CO., iMMMtJN
<br />PLF.143 4F GUYAHCGA tOUNTY, NUMBER 7"270 FOR
<br />THE SUM Ot $)9.000.00 PLUS COURT Cfl3TS, AND
<br />DEGLAkING AN EuiERGENCY.
<br />WHEREAS, the Gity of Narth Olmsted has bean sued by Nardei
<br />Cantracting Co., Inc. C?uakor Eaaqineering & Supply Co. j, and taItl Hadddd
<br />Canstruction Co. for the sum of $96, 518. 25, and
<br />WHEREAS, the City of North E3lmsted has fndurred muah expense
<br />dttt3 to the filixtq of the aboVe 1aw sult r and
<br />WHEREAS, Cwncil has been advised by the Dlreclar of Law
<br />tha# the City is 3iable for an #.ncieteminate sum, and
<br />WHEREAS, the Gity has been unabie ta seil the sewer bonds
<br />necessary t4 f3nance the sewers in the aity, and
<br />. WHEREAS, Case Number 777270, Court of Gommon Pleas tor
<br />" Cuyahaga County, can be sattled for the sum of FowEteen Thousand Dvllars
<br />(S14,000.04). and
<br />WHEREAS, #riteret on the debt 4f the citp has been paid and varould
<br />have to be paid, and
<br />WHEREAS, the Direcstar of Law acivfses the aity to settle #he
<br />aforesafd ?aw suit.
<br />IdOW, THEREFflRE, BE IT RESOLVED by the Gcruncil dE the Cit?
<br />of 1Varth Qltnsted, 4hio:
<br />Saction 1; Ihat Council after havfng biaen advised by the
<br />Dtr+actor of Law of tbe facts invalved in the 2aw sult titled Nardei CEmstructiori
<br />Company, Inc., Qusker EncOneeri.ng & Snpply Company, and Ka2i1 Haddad
<br />Constnuetlon Company vs. City of North Oimsted, 4hto, Case No. 777270, Ctxy-
<br />ahogs Counnty Common Pleas C3ourt, that after beinq edvfsed bp the Diraetvr of `'.
<br />Finance thst the in#erest on the debt vvhich was 3nactrred bed$us'ia'of the ahcFve
<br />mentioned 1aw suit is a large aAd unnecessarr burden on. thiJc'ity's finance,
<br />and after having been of#ered the opportunity to consider a11 facts relevant to
<br />the abow?e law suit, has dec#ded that it is far the best fnterest of the cfty to
<br />aceept ths 4£fer of settiement, to wit: $ 10, 000. 00 cash doyvn and the balanae
<br />of the sett.iemeni namely, ibur Thcusand DoUars (S4 , 040. QQ) at the rate of
<br />One 2housand Dallars (SI, 400.00) per month plus the cost of the tawsuii.
<br />Sectivn Zr That thf s Council hereby d3rects that a copy of
<br />th8 Reso3uut:fQn is to be delivered to the Ffnance Dtrectvr to pay tha terms of
<br />the agreed settlement, to wft, $ 30, 000 : 00 payab2e on settlement dap and
<br />$4, 800, 00 payable at the ra#e of $1, 000. DQ per mcanth for apetfod of #owr
<br />mcnths.
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