4.A.
Facilities Development Corporation
- Meeting Date:
- 07/18/2017
- Department Head:
- Kay Macuil
- Submitted By:
- Kay Macuil, City Attorney, Attorney's Office
ITEM:
Discussion and possible action on any and all matters regarding a settlement agreement with Emerald Correctional Management L.L.C. and U.S. Bank National Association. (Kay Marion Macuil, Attorney for SLFDC)
SUMMARY:
A settlement among U.S. Bank National Association (Trustee for the Bond Holders), Emerald Correctional Management L.L.C. (Emerald) and San Luis Facility Development Corporation releasing claims on revenue which was generated by Emerald is the subject of this agenda item.
RECOMMENDATION / SUGGESTED MOTION:
I MOVE TO APPROVE THE SETTLEMENT AGREEMENT WITH U.S. BANK AND EMERALD CORRECTIONAL MANAGEMENT L.L.C. AS PRESENTED.