Ord 051-2001 5/15/2001ORDINANCE NO. \ — 1
ORDINANCE ACCEPTING A SETTLEMENT OFFER FROM THE
BANKRUPTCY ESTATE OF EDISON BROTHERS INCORPORATED
FOR DELINQUENT TAXES; FINDING AND DETERMINING THAT THE
MEETING AT WHICH THIS ORDINANCE WAS PASSED WAS OPEN TO
THE PUBLIC AS REQUIRED BY LAW.
WHEREAS, the City has, through its tax attorney, filed a claim for collection of
delinquent ad valorem taxes against the bankruptcy estate of Edison Brothers,
Incorporated in the amount of $2,258.19; and
WHEREAS, Edison Brothers, Incorporated have offered to settle the claim in the
amount of $2,157.24, which represents the base amount of the tax, excluding penalties
and interest; and
WHEREAS, acceptance of this offer is in the City's best interest due to the
uncertainty of the outcome if the offer was not accepted.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
SECTION 1. The settlement offer from the bankruptcy estate of Edison
Brothers, Incorporated in the amount of $2,157.24 in the claim filed for delinquent taxes
for the 1998 and 1999 tax years.
SECTION 2. It is hereby officially found and determined that the meeting at
which this ordinance was passed was open to the public as required by law.
PASSED AND APPROVED this the 15th day of May 2001.
MAYOR
ATTEST: