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HomeMy WebLinkAboutResolution #1126RESOLUTION NO . 112 6 A RESOLUTION APPROVING A "SETTLEMEN'T' AGREENIETIT" BETWEII~I THE CITY OF CANTON AND MERNITH B. STRAUCH, TRUSTEE AND AUTHORIZING AND DIRECTING THE MAYOR AND CITY CLERK TO EXECUTE AND DELIVER SAID AGREIIKEN'T ON BEHALF OF THE CITY OF CAN'T'ON, ILLINOIS . WHEREAS, the Canton City Council has determined that it is necessary and in the best interest of the City of Canton to enter into a "Settlement Agreement" with Mernith B. Strauch, Trustee as set forth in Exhibit "A" hereto attached. NOW, 'THEREF'ORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CANTON, Fulton County, Illinois as follows: 1. That Exhibit "A" hereto attached and herein incorporated by reference is hereby approved by the Canton City Council. 2. That the Mayor and City Clerk are hereby authorized and directed to execute originals of Exhibit "A" and to deliver the same on behalf of the City of Canton. 3. That this Resolution shall be in full force and effect immediately upon its passage by the City Council of the City of Canton, Fulton County, Illinois, and approval by the Mayor thereof. PASSED by the City Council of the City of Canton, Fulton County, Illinois at a regular meeting this 3rd day of December , 1985, upon a roll call vote as follows: AYES: Aldermen Chapman, May, Bohler, ~~Torkman, Sarff, Falcone, Zilly, Kovachevich. NAYS: None . ABSENT: None . APPROVED: ~ ~,~~ nald E. Edwards, Mayor ATTEST: Whi ,City Clerk ~,~, Pu~lic~~ion Bnstructions Co not publish Cl ~'ublish i^~ ~^mphlot forte only Publish in a neneral circulation newspaper _~ / zl ~ r18~.~ City AtL Date SETTLEI~.C AGREEMENT ~~4 6 9. This Settlement Agreement made and entered into as of this 30th day of November, 1985, WITNESSEI'H as follows: 1. Parties: The parties hereto are the City of Canton, an Illinois munici- pal corporation, hereinafter called "City", and, Mernith B. Strauch, Trustee, hereinafter called "Taxpayer". 2. Subject Matter: The subject matter of this Settlement Agreement is the amicable out of court settlement of certain controversies arising by reason of the establishment and creation of City of Canton Special Service Area Number Six. 3. Factual Agreemennt: Both City and Taxpayer agree that the City of Canton has filed its complaint for declaratory judgment in the Circuit Court of the Ninth Judicial Circuit, Fulton County, Illinois on March 28, 1983 under docket number 83-MR-6. The Taxpayer is named as a defendant in count two of said complaint and has filed its answer to count two of said complaint which answer generally denies certain allegations of said complaint. 4. Considerations: In consideration of the amicable out of court settlement provided for in this Agreement and in consideration of the mutual promises and covenants hereinafter set forth, the parties agree as follows: A. Each of the City and Taxpayer will immediately execute and deliver originals of this document, each to the other. B. Thereupon, the Taxpayer will execute and deliver to the City its stipulation and entry of appearance and consent in the aforesaid cause with stipula- tion, entry of appearance and consent will, in its text, agree and consent to entry of summary judgment in favor of the City and in conformity with the prayer for relief contained in count two of complaint for declaratory judgment therein filed by the City on March 28, 1983. C. The Taxpayer shall, within fourteen days of entry of such su~ur~ary judgmnt, execute such other and further documents as the County of Fulton may deem necessary to the entry of judgment in any tax objection cases arising from the est- ablishment of City of Canton Special Service Area Number Six, with the expressed purpose that such tax protest shall be either dismissed, or, determined in favor of the County of Fulton, all with the legal force and effect that the taxes paid under protest shall be released by the county to the respective taxing bodies. Settlement Agreement Page 2 D. The City shall, within thirty days of the entry of summary judgment, pay to the Taxpayer a sum equal to sixty percent of the City of Canton Special Service Area Number Six tax which is released to the City by the County of Fulton pursuant to the settlement of the tax protest case or cases, as aforesaid. E. The City of Canton shall, within thirty days of entry of summary judgment in the aforesaid cause, pay unto the Taxpayer sixty percent of the City of Canton Special Service Area Number Six taxes which have been previously paid by the Taxpayer (albeit not under protest). F. Thereafter, the City of Canton shall, for the term and duration of City of Canton Special Service Area Number Six, annually pass its resolution or ordinance which abates sixty percent of the City of Canton Special Service Area Number Six tax with respect to the aforesaid Taxpayer, or, with respect to the real property (and improvements thereon) presently owned by said Taxpayer in City of Canton Special Service Area Number Six. 5. In the event that the City of Canton does not, within thirty days of entry of summary judgment in the aforesaid cease, perform as herein agreed, then the City of Canton hereby irrevocably agrees that said Taxpayer may, at Taxpayer's sole dis- cretion, petition the court to quash and vacate the aforesaid stipulation, entry of appearance and consent, and reinstate their present position in the aforesaid cause with the legal force and effect as though the said stipulation, entry of appearance and consent had never been entered into by the parties hereto and with the same legal force and effect as though an order of summary judgment had never been entered therein with respect to said Taxpayer. 6. That this Agreement shall be binding upon the parties hereto and upon each of their respective heirs, executors, administrators, successors, and assigns. 7. Other Terms and Conditions: A. Taxpayer shall, immediately upon the City's performance as set forth in subsections A, B, D, and E of the foregoing numerical paragraph 4, execute and deliver to the City the Taxpayer's full and complete assignment to the City of all of Taxpayer's causes of action, known or unknown, which Taxpayer might now or here- after might assert, at law or in equity, by reason of the creation of City of Canton Special Service Area Number Six. • - Settlement Agreement Page 3 In Witness whereof the parties have hereunto affixed their signatures as of the day and date first above mentioned. CITY OF CAN'T'ON, an Illinois municipal corporation, BY: Its Mayor ATTEST: City Clerk Mernith B. Strauch, Trustee.