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<br /> 115 <br /> RESOLUTION 1992- 50 R <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY <br /> OF SAN MARCOS, TEXAS, APPROVING THE TERMS AND <br /> CONDITIONS OF A COMPROMISE AND SETTLEMENT <br /> AGREEMENT AND A MUTUAL RELEASE AGREEMENT <br /> BETWEEN THE CITY AND THE LOWER COLORADO RIVER <br /> AUTHORITY FOR SETTLEMENT OF THE PENDING <br /> LAWSUIT REGARDING PURCHASE OF THE LOCAL <br /> ELECTRIC DISTRIBUTION SYSTEM BY THE CITY; <br /> AUTHORIZING THE MAYOR TO EXECUTE THE <br /> AGREEMENTS ON BEHALF OF THE CITY; AND <br /> DECLARING AN EFFECTIVE DATE. <br />WHEREAS, the City has initiated a suit against the Lower <br />Colorado River Authority ("LCRA") for breach of the contract under <br />which the City purchased the local electric distribution system <br />from LCRA; and, <br />WHEREAS, the City and LCRA have agreed to the terms of a <br />settlement of this pending lawsuit; now, therefore, <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />PART 1. That the terms and conditions of the Compromise and <br />Settlement Agreement and the Mutual Release Agreement attached to <br />this Resolution between the City and LCRA for settlement of the <br />ci ty I S pending sui t regarding purchase of the local electric <br />distribution system by the City are hereby approved. <br />PART 2. That the Mayor, Kathy M. Morris is hereby authorized <br />to execute these agreements on behalf of the City. <br />PART 3. That this Resolution shall be in full force and <br />effect immediately from and after its passage. <br />ADOPTED this 23 April , 1992. <br /> M.~ <br /> Kathy M. orris <br />Att<¡>st: ì~. I Mayor <br />A c ~ . I ) <br />1"1 ./ // <br />~1jL~b~ l ;; Ø!1,n t!. ,j/]-/ <br />J is K. Wom c' 0' ,-. v. ¡ <br />City Secretary <br />