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CITY OF NORTH OLMSTED
<br />RESOLUTION NO. 64- vZ ~
<br />BY ~'L, 1L, ,
<br />A RESOLUTION AUTHORIZING THE DIRECTOR OF LAW TO
<br />SETTLE THE LAWSUIT ENTITLED NARDEI CONTRACTING
<br />COMPANY INC. , QUAKER ENGINEERING & SUPPLY CO. ,
<br />AND KAT.TL HADDAD CONSTRUCTION CO.,~MON
<br />PLEAS OF CUYAHOGA COUNTY, NUMBER 777270 FOR
<br />THE SUM OF $1~, 000.00 PLUS COURT COSTS, AN D
<br />DECLARING AN EMERGENCY.
<br />WHEREAS, the City of North Olmsted has been sued by Nardei
<br />Contracting Co . , Inc . Quaker Engineering & Supply Co . , and Kalil Haddad
<br />Construction Co. for the sum of $96 , 518.25 , and
<br />WHEREAS, the City of North Olmsted has incurred much expense
<br />due to the filing of the above law suit, and
<br />WHEREAS, Council has been advised by the Director of Law
<br />that the City is liable for an indeterminate sum, and
<br />WHEREAS, the City has been unable to sell the sewer bonds
<br />necessary to fin~n~e the sewers in the city, and
<br />WHEREAS, Case Number 777270, Court of Common Pleas for
<br />Cuyahoga County, can be settled for the sum of Fourteen Thousand Dollars
<br />($14,000.00), and
<br />WHEREAS, interest on the debt of the city has been paid and would
<br />have to be paid, and
<br />WHEREAS, the Director of Law advises the city to settle the
<br />aforesaid law suit.
<br />NOW, THEREFORE, BE IT RESOLVED by the Council cf the City
<br />of North Olmsted, Ohio:
<br />Section 1: That Council after having been advised by the
<br />Director of Law of the facts involved in the law suit titled Na~dei Construction
<br />Company, Inc. , Quaker Engineering & Supply Company, and Kalil Haddad
<br />Construction Company vs. City of North Olmsted, Ohio, Case No. 7772?0, Cuy-
<br />ahoga County Common Pleas Court, that after being advised by the Director of
<br />Finance that the interest on the debt which was incurred because of the above
<br />mentioned law suit is a large and unnecessary burden on the city's finance,
<br />and after having been offered the opportunity to consider all facts relevant to
<br />'~'~'" the above law suit, has decided that it is for the best interest of the city to
<br />'' accept the offer of settlement, to wit: $10, 000.00 cash dawn and the balance
<br />of the settlement namely, fburThousand Dollars ($4,000.001 at the rate of
<br />One Thousand Dollars ($1, 000.00) per month plus the cost of the lawsuit.
<br />Section 2: That this Council hereby directs that a copy of
<br />the Resolution is to be delivered to the Finance Director to pay the terms of
<br />the agreed settlement, to wit, $10, 040.00 payable on settiernent day and
<br />$4, 000.00 payable at the rate of $1, 000.00 per month for a period of four
<br />months .
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