1988R10- CONTINENTAL INDEMNITY CORPORATION
RESOLUTION NO. ~~-~O
A RESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SCHERTZ, TEXAS:
THAT the City of Schertz, Texas ("City"), accepts the
offer of Continental Indemnity Corporation, W. H. Mangum, Inc.,
John Knox, Jr., Will Mangum, Susan Mangum, Margaret Mangum, J. M.
Manufacturing Company, Manville Sales Corporation, Mars Plumbing
& Supply Company, Polymer Raymond, Inc., and Reeves Rubber
Company (now known as Fluorocarbon Co.), Defendants and Third-
Party Defendants in th~ lawsuit styled City of Schertz, Texas v.
W. H. Mangum, Inc., Et AI., Cause No. 85-666, pending in the 25th
Judicial Distr ict Court of Guadalupe County, Texas ("Lawsuit"),
to pay the City the sum of $312,806.95 and to fully release the
City of and from any and all claims, actions, controversies, and
causes of action, which were asserted or which could have been
asserted against the City in the Lawsuit in exchange for the
City's full release of said Defendants and Third Party Defendants
of and from any and all claims, actions, controversies and causes
of action which were asserted or which could have been asserted
by the City in the Lawsuit. The City's acceptance of the
settlement offer is contingent upon W. H. Mangum, Inc. securing
permission to enter into this settlement from the United States
Bankruptcy Court in which its bankruptcy case is pending and upon
Manville Sales Corporation and Polymer Raymond, Inc. securing
permission to enter into the settlement from the bankruptcy
courts in which their respective bankruptcy cases are pending.
BE IT FURTHER RESOLVED:
THAT the City hereby empowers and authorizes Steve
Simonson, the City's Acting City Manager, or the successor City
Manager named by the City Council, to execute all documents
necessary to effectuate the settlement of the Lawsuit.
PASSED, APPROVED AND ADOPTED the It a. day of fl v '1 tI 5 0;
198B.
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ATTEST:
City of Schertz
(SEAL OF CITY)
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