HomeMy WebLinkAboutResolution - 2003-R0309 - Settlement Agreement Concerning Oil And Gas Lease - Cornell Corporation - 08/06/2003Resolution No. 2003-RO309
August 6, 2003
Item No. 27A
RESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the Mayor of the City of Lubbock BE and is hereby authorized and
directed to execute for and on behalf of the City of Lubbock a Settlement Agreement,
by and between the City of Lubbock and Cornell Corporation, settling a dispute
between the parties concerning an Oil and Gas Lease between City of Lubbock and
Texland Petroleum, Inc., as described therein, and any associated documents. The
execution of the Settlement Agreement is conditioned upon the prior execution of that
certain Amendment of Oil and Gas Lease by and between the City of Lubbock and
Texland Petroleum, L.P., et al. Said Settlement Agreement is attached hereto and
incorporated in this Resolution as if fully set forth herein and shall be included in the
minutes of the City Council.
Passed by the City Council this 6th
day of August , 2003.
MARC MCDOUGAL, MAYOR
ATTEST:
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Rebecca Garza, City Secretary
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APPROVED AS TO CONTENT:
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Ed Bucy, Right of Wa3m gent
APPROVED AS TO FO
Richard K. Casner
First Assistant City Attorney
ke/ccdocs/Cornell Corp-SettlementAgreement-OilGasLease
August 6, 2003