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Res 029-96 3/5/1996RESOLUTION NO. 'a(-11 X RESOLUTION APPROVING THE REFUND OF MONIES TO DANA CORPORATION LITIGATION FOR SETTLEMENT IN A LAWSUIT . BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WICHITA FALLS , TEXAS . THAT: It is found that a judgement reduced the appraised value at 2800 Fisher Road, account #0956-010-0000 of 1 , 774, 546 . The total of all tax entities was $55 , 591 . 28 and the City ' s share is $16 ,078 . 32 . PASSED AND APPROVED THIS 5TH- D , OF MARC 9 . . M A Y O R/ OF' Ail L ee, 410011111. ATTEST: CITY CLERK WICHITA APPRAISAL DISTRICT Wm P.O. Box 5172 • 600 SCOTT STREET • WICHITA FALLS,TEXAS 76307 PHONE:(817)322-2435 EQUALIZATION' M E M O R A N D U M DATE February 9, 1996 TO James Berzina, Wichita Falls City Manager Les Carnine, Superintendent, Wichita Falls I .S.D. Nick Gipson, Wichita County Judge FROM Lanier Wilson SUBJECT Dana Corporation Litigation I informed you in December that we had litigated the 1992, 1993, 1994 and 1995 value of property belonging to Dana Corporation. I also advised that a judgment would be forthcoming (see enclosed memo). Judge Driver has issued the court's judgment as of February 7, 1996. Enclosed is a copy of that judgment. Also enclosed is the refund schedule for each taxing entity. The major difference in what I mailed you in December and now is that the 1995 refund is also included. It was anticipated that the judgment would have been received in January and 1995 value would be adjusted and not refunded. I need to point out that the refund for each year is subject to interest based on 13 week T-bill rates. We have computed the amount of refund based on payment being made by March 1st. If payment is not made prior to this date additional interest will be due. Please make refund checks payable to: Geary, Porter & Donovan PC, One Bent Tree Tower, 16475 Dallas Pkwy, Ste 550, Dallas, TX 75248. I an sorry that we were not as successful as we would have liked to have been in court. If you have questions or comments, please give me a call . anier Wilson CC: Monette Pemberton M A H 1 Z H AA hfAp yy r 0 4 I.. 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Dana Corporation, the Plaintiff, appeared in person and by attorney of record and announced ready for trial, and Wichita Appraisal District, the Defendant, appeared in person and by attorney of record and announced ready for trial. A jury having been previously demanded, a jury consisting of twelve 12) qualified jurors was duly empaneled and the case proceeded to trial. At the conclusion of the evidence, the Court submitted the questions of fact in the case to the Jury. The charge of the Court and the verdict of the Jury are incorporated for all purposes by reference. Because it appears to the Court that the verdict of the Jury was for the Plaintiff and against the Defendant on the issues of fair market value and attorneys' fees at trial, Judgment should be rendered on the verdict in favor of the Plaintiff and against the Defendant on these issues. After the Jury returned its verdict, Plaintiff moved for judgment notwithstanding the verdict on the issue of attorneys' fees on appeal . Because it appears to the Court that there is no evidence of probative force, or alternatively no evidence, to JUDGMENT -- Page 1 1:\CLIENT-D\7446\28440\JWGMENT f sustain the verdict of the Jury on the issue of app ellate attorneys' fees, and that a directed verdict in favor of Plaintiff would have been proper, judgment notwithstanding the verdict should be rendered in favor of Plaintiff and against Defendant on this issue. The Court, after hearing the evidence and argument of counsel, is of the opinion that the Plaintiff is entitled to an order of the Court ordering a reduction in the appraised value of the Plaintiff' s property, represented by Wichita Appraisal District Account Numbers 0956-010-0000 for tax years 1992 through 1995 to 1, 774, 546.00, and that Plaintiff should recover its reasonable and necessary attorneys' fees as set forth below. IT IS THEREFORE ORDERED that the appraisal rolls of the Defendant be modified and corrected to reflect a market value for the above account number comprising Plaintiff's property of 1, 774, 546 .00 on January 1, 1992, January 1, 1993, January 1, 1994 and January 1, 1995. IT IS FURTHER ORDERED that the Defendant shall forthwith advise the Assessor for each affected taxing unit to (1) change the tax roll and other appropriate records to reflect the appraised value as set forth above; (2) prepare and deliver a supplemental tax bill as required by Chapter 31 and Chapter 42, subchapter C of the Texas Property Tax Code; and (3) promptly make any necessary tax refunds for the above-referenced property pursuant to Texas Property Tax Code Section 42 .43 . IT IS FURTHER ORDERED that Plaintiff recover from Defendant its reasonable and necessary attorneys' fees in the sum of Page 2 1:\CLIENT-D\7446\28440\JWGNENT 10, 000 .00 for services rendered through the trial of this case, for which let execution issue. IT IS FURTHER ORDERED that the motion of Plaintiff for judgment notwithstanding the verdict is granted, the verdict of the Jury regarding attorneys' fees on appeal is vacated and set aside, and Plaintiff may recover its reasonable and necessary attorneys' fees in the event it successfully defends an appeal of this Judgment by Defendant of $5, 000.00 for defense of an appeal to the Court of Appeals, $3, 500 .00 for response to an application for writ of error and $2, 500.00 for defense of an appeal to the Supreme Court should such application be granted. IT IS FURTHER ORDERED that all costs of court expended or incurred in this cause are adjudged against Defendant, for which let execution issue. IT IS FURTHER ORDERED that all attorneys' fees and costs of court due under this Judgment shall include post judgment interest at the rate of 10% per annum, from the date of this Judgment until paid, for which let execution issue. All other relief not expressly granted in this judgment is denied. SIGNED this 11; day of l'el," 4, 1995. JUDGE • - SIDING JUDGMENT -- Page 3 1:\CLIENT-D\7446\25440\JUDGMENT AMOOMMIIMMIMMO