HomeMy WebLinkAbout1990-01-09 - RESOLUTIONS - TENNECO OIL SETTLEMENT AGMT (2)RESOLUTION NO. 90-13
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA CLARITA, CALIFORNIA, APPROVING
A SETTLEMENT AGREEMENT RESOLVING
DISPUTES WITH TENNECO OIL COMPANY AND
ARCO OIL AND GAS COMPANY
WHEREAS, the City of Santa Clarita ("City"), and Tenneco Oil
Company ("Tenneco"), have been involved in a dispute since the date
of incorporation of the City regarding the construction of a
Cogeneration facility ("the project"), the Placerita Canyon Oil
Field within the City; and
WHEREAS, said dispute between Tenneco and the City resulted
in a lawsuit between said parties where a decision of the trial
court, adverse to the City, was appealed and is still pending in
the court of appeal and the outcome of said litigation is uncertain
as to said parties; and
WHEREAS, Tenneco has sold its interest in the Placerita
Canyon Oil field, and the project to Arco Oil and Gas Company
("Arco"), which is the successor in interest to Tenneco; and
WHEREAS, the City, Tenneco, and Arco have worked out a
compromise and settlement of all issues relating to the dispute and
desire to resolve and terminate all of their differences by
entering into a Settlement Agreement.
NOW, THEREFORE, be it resolved as follows:
SECTION 1: The Settlement Agreement between the City,
Tenneco and Arco, dated January 9, 1990, which
is attached hereto as Exhibit A and incorporated
herein by reference, is hereby approved.
SECTION 2: The City Clerk shall certify to the adoption,of
this resolution and certify this record to be a
full, true, and correct copy of the action taken.
PASSED, APPROVED AND ADOPTED THIS 9th day of January, 1990.
n+
YOR
ATTccT.
I HEREBY CERTIFY that the foregoing Resolution was duly
adopted by the City Council of the City of Santa Clarita at a
regular meeting thereof, held on the 9th day of January, 1990 by
the following vote of Council:
AYES:
NOES:
ABSENT:
COUNCILMEMBERS: Boyer, Heidt, Koontz,
Darcy
COUNCILMEMBERS: NONE
COUNCILMEMBERS: """
McKeon,