2016-300SALegal\Our Documents\0rdinances\16\Ordinance - 551 Mayhill JV Settlement.docx
•' • � ! !• �' . ! • ;..4.111 !/ •"
•lop U a Okk I! ! •'
SECTION 1. The City Council hereby approves the proposed settlement in litigation
styled City of Denton, Texas v. SSI Mayhill Joint Venture and American National Bank, Cause
No. PR -2014-00309, currently pending in the Probate Court of Denton County, Texas in the
settlement amount of $440,000.00.
SECTION 2. The City Attorney, or her designee, is hereby authorized to act on the City's
behalf in approving and executing any and all documents necessary and appropriate to effectuate
the terms of the settlement, including the expenditure budgeted funds, and to take other actions
necessary to finalize the settlement.
SECTION 3. The provisions of this ordinance shall govern and control over any
conflicting provisions of previously applicable ordinances. To the extent the previously applicable
ordinances do not conflict or do not apply to the Property, those Ordinances shall continue in full
force and effect.
SECTION 4. This ordinance shall become effective immediately upon its passage and
approval.
PASS1 ll) AND A]1111�OVED this theday of ?01 s.
....a.,
CHRIS WATTS, MAYOR m
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
WffAA
makillywoul allm-f-mal IM
BY:
SALcgalkOUT Do mcniskOrdimnm16\0rdinallm -551 MayhIll JV Sculement dm.x