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Regular City Council Meeting
6.9.
11/01/2021:
Information
Agenda Item
Resolution - City Manager:
Consider a resolution authorizing the Mayor to execute the Texas Opioid Abatement Fund Council and Settlement Allocation Term Sheet and related documents, including any settlement participation forms.
Item Summary
The State of Texas, through the Office of the Attorney General and a negotiation group representing Texas Political Subdivisions, entered into an Agreement to resolve a portion of the ongoing Opioid litigation. The Agreement is between the State and eligible local jurisdictions who choose to participate and various pharmaceutical supply chain participants (manufacturer and/or distributors). The Agreement is to effectuate the resolution of the Litigation and to create an effective means of distributing potential settlement funds.
The City of Lubbock is an eligible local jurisdiction and entitled to participate in the Agreement. Passage of this item will ensure the City receives an allocation from any settlement funds paid through the negotiated Agreement. Note that the City is one of many eligible jurisdictions and must sign-on to the agreement to participate. Once the required number of political subdivisions choose to participate, the State Attorney General’s office and their outside counsel will complete the Agreement on behalf of all jurisdictions who agreed to participate.
The City of Lubbock has no cost associated with this Agreement.
Fiscal Impact
Once the Agreement is completed, the City of Lubbock will be eligible to receive an allocated share of the settlement funds. The allocated share estimated at this time is $319,867.
Staff/Board Recommending
W. Jarrett Atkinson, City Manager
Attachments
Resolution (c) - Texas Opioid Abatement Agmt.
Agreement (c) - Texas Opioid Abatement Fund
Agmt Exhibit K (c) - Settlement Participation Form
Agmt Exhibit K (c) Subdivision Settlement Participation Form
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