Res 169-85 11/5/1985RESOLUTION NO. /(p;j,$
RESOLUTION APPROVING SETTLEMENT OF TAX
CASE WITH FORD MOTOR CREDIT COMPANY.
WHEREAS, the City of Wichita Falls and the Wichita Falls Independent
School District have filed a tax suit against Ford Motor Credit Co., Inc. ,
for property taxes owed by Whitney Ford Company for 1979 and 1980; and,
WHEREAS, it has been recommended that this tax suit be compromised
and settled by the payment by Ford of the sum of $31,140.24; and,
WHEREAS, the City Council finds that such compromise and settlement
is advisable and in the best interest of the City of Wichita Falls.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
Such compormise and settlement of said suit is hereby approved,
and the City Manager is authorized to execute the release, a copy of which
is attached hereto.
PASSED AND APPROVED this the 5th day of November, 1985.
M O
ATTEST:
City C erk
No. 37,025-B
CITY OF WICHITA FALLS, IN THE DISTRICT COURT
et al.,
Plaintiffs,
vs. WICHITA COUNTY, TEXAS
FORD MOTOR CREDIT COMPANY, §
Defendant 78TH JUDICIAL DISTRICT
RELEASE AND COMPROMISE OF ALL CLAIMS
We, the CITY OF WICHITA FALLS and the WICHITA FALLS
INDEPENDENT SHCOOL DISTRICT, our successors and assigns
hereinafter collectively referred to as "City") , in con-
sideration of the sum of Thirty-One Thousand One Hundred
Forty Dollars and Twenty-Four Cents ($31,140.24) , the
receipt of which is hereby acknowledged, do hereby forever
release Ford Motor Credit Company, its successors, assigns,
officers, agents, employees, and legal representatives
hereinafter collectively referred to as "Ford Credit") ,
of and from any and all claims and demands by the City,
arising out of that certain Substitution Agreement entered
into by the City and Ford Credit which is attached hereto ,
as Exhibit A, and all such claims arising out of the same
transactions or events as, are involved in the following cause
of action:
Cause No. 37,025-B, in the District Court of Wichita
County, Texas, entitled City of Wichita Falls, et al.,
Plaintiffs, vs. Ford Motor Credit Company, Defendant.
The City represents and warrants that it owns the causes
of action asserted in the above entitled and numbered lawsuit
and hereby agrees to indemnify and hold harmless Ford Credit
of and from all further claims or demands, costs, attorney's
fees, or expenses arising out of the subject matter of said
lawsuit.
RELEASE AND COMPROMISE OF ALL CLAIMS - Page 1
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The City understands that this Release constitutes
the compromise and settlement of all disputed claims by
the City against Ford Credit. We, James P. Berzina, for
the City of Wichita Falls, and Lee R. Williamson, for the
Wichita Falls Independent School District, have read this
Release and understand all its terms. We execute it
voluntarily, with full knowledge of its significance,
with the approval of the City's attorney, R. Bruce Medley,
and pursuant to proper resolutions by the City Council of
Wichita Falls and by the Board of Trustees of the Wichita
Falls Independent School District authorizing its execution.
It is hereby fully understood and agreed that this
settlement is being made purely upon a compromise basis
in order to avoid further trouble, litigation, and expense,
and we further agree that Ford Credit does not admit lia-
bility to the City or to anyone else by the making of this
settlement but expressly denies any and all such liability.
It is further expressly understood and agreed that the
aforesaid consideration for this Release and the Release
itself is contractual and not a mere recital.
CITY OF WICHITA FALLS
By:
James P. Berzina
City Manager
WICHITA FALLS INDEPENDENT
SCHOOL DISTRICT
By:
Lee R. Williamson,
Superintendent
RELEASE AND COMPROMISE OF ALL CLAIMS - Page 2