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Home My Public Portal Aboutr 13-055Anolufloll of file Porog4 of 6arteref, �N- 51 No. 11:55 Date of Adoptio %rch 21 r 20 13 RESOLUTION AUTHORIZING EXECUTION OF THE CONSENT JUDGMENT FOR SETTLEMENT IN "THE ACTION ENTITLED, NEW JERSEY DEPARTMENT Oar ENVIRONMENTAL PROTECTION v. OCCIDENTAL CIMMICAL CORPORATION ET AL DOChTT NO. ESX- L- 9868 -05 (PASR) WHEREAS, certain claims have been asserted against the Borough of Carteret, as a Third -Party Defendant, in the action entitled New Jersey Department of Fnvironmental Protection v Occidental Chemical Coroorition 't of bearing Docket No. ESX- L -9868- 05, pending in the Superior Court of New Jersey, Law Division, Essex County (the "Litigation") regarding alleged environmental contmnination of the Newark Bay Complex; and WHEREAS, certain Third -Party Defendant nuuricipali ties and municipal utilities authorities, including the Borough of Carteret, are members of a group known as the Municipal Joint Defense Group in fire Litigation; and NMEREAS, the Municipal Joint Defense Group, on behalf of its members, engaged in seulenrent negotiations with the State of New Jersey ( "State Plaintiffs ") towards the resolution of Ore Litigation through the entry of a Consent Judgment; and WHEREAS, the parties have substantially settled the Litigation and are negotiating the final details of the Consent Judgment; and WHEREAS, the teams of the settlement require the Borough of Carteret to execute /sign off on the Consent Judgment prior to the Consent Judgment being lodger) and publisher) in the New Jersey Register for public review and comment; and WHEREAS, the terms of the settlement require the Borough of Carteret to, on or before March 23, 2013, pass a resolution authorizing its participation in the Consent Judgment and authorizing payment of the settlement in the amount of $95,000 (the 'Settlement Funds ") when due; cord WHEREAS, payment of the Settlement Funds shall not be due unlit the Court approves the settlement and titers the Consent Judgment; and WHEREAS, in no event shall payment of the Settlement Prods be due in calendar year 2013; and WHEREAS, when due, the Settlement Funds may be deposited into an escrow account established by tine State of New Jersey Depnrtiuent of Environmental Protection or deducted by the State of New Jersey front State Aid in two consecutive deductions in the amount of $50,000 and $45,000, respectively; and WHEREAS, a copy of the Consent Judgment is in the Cleric's office and is incorporated by reference hereto. NOW, THEREFORE, BE IT RESOLVED by the Borough of Carteret as follows: 1. The Borough of Carteret is hereby authorized and directed to sign the signature page of the Consent Judgment, which will be adopted in substantially the form container) in the draft copy on file, and therealler immediately transmit the said original signature page to David J. Marro, Esq., Sedita, Cnnrpisano C Campisano LLC, 145 Route 46 West, Suite 102, Wayne Plaza 1, Wayne, New Jersey 07470. 2. 'file Borough of Carteret hereby authorizes payment of (lie $95,000 settlement amount, when due, in the manner provided for in the Consent Judgment. 3. 'file manner in which the Borough of Carteret shall appropriate the Settlement Funds shall be established by the appropriate Borough Officials when necessary. PAGE 2 of 2 4. Nonvithstmuliug the above nuthorizations, nothing contained within this resolution .shall preclude or prevent the Borough of Carteret from pursuing recovery and reinibmsemenl for the whole or Any portion of the Settlement Funds from any insurance carrier(s) identified now or in the futme. 5. This resolution shall take effect immediately. Adopted this 21 day of March, 2013 and certified as a true copy of the original on March 22, 2013. KATHLEEN NI. BARNEY, MMC Municipal Clerk - urrnun OF COUNCIL VOTIt COUNCILMAN V" No NV A.lt. COUNCILMAN A. X Kul X [IFS TNV DI P4L -- X. Indicate Vnie An Ab,mM NV -Nut Vining XOR 11)(141"1 Vole la Overmle Vclu Adopled it a meeting of the hlunicil'A Cmnlcil / a [r']OYr).1 21 2013 I FR: