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6.19.
Regular City Council Meeting
Meeting Date:
04/27/2021
Information
Agenda Item
Resolution - Lubbock Power & Light:
Consider a resolution approving and authorizing the Mayor of the City of Lubbock to execute a Settlement Agreement and Release by and between Associated Supply Company, Inc. (ASCO), Federated Insurance Company (Federated), and the City of Lubbock acting by and through Lubbock Power & Light, regarding the disposition of alleged claims connected with or arising out of alleged damage to a crane rented by LP&L from ASCO, occurring on or about May 30, 2019, and ratification and approval, as applicable, of the receipt of insurance proceeds for a portion of same.
Item Summary
The resolution and accompanying document resolves the claims related to the alleged damages regarding the crane rental from ASCO, and its insurer, Federated. The resolution also ratifies and approves, as applicable, the City’s receipt of insurance proceeds regarding a portion of same because some funds have been received and others are forthcoming.
Fiscal Impact
Funds for the Settlement Agreement are budgeted in the FY 2020-21 Risk Management Fund.
Staff/Board Recommending
David McCalla, Executive Director of Electric Utilities
Attachments
Resolution for CC - LP&L Settlement
Settlement Agreement - LPandL
Resolution of LPandL - Settlement Agreement
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