HomeMy Public PortalAbout1977_02_02_R015 TOWN OF LEESBURG
LOUDOUN COUNTY, VIRGINIA
RESOLUTION NO. 77-15 PRESENTED Feb.ruary 2~ 1977
ADOPTED ...... February 2, 1977
AUTHORIZING AN AGREEMENT TO SETTLE DISPUTES WITH
TRANSAMERICAN AIRPORTS, INC.
RESOLVED by the Council of the Town of Leesburg, Virginia
as follows:
SECTION I. An Agreement to settle disputes between the town
and TransAmerican Airports, Inc., and Chantilly Aviation, Inc.,
('!Companies" herein) is approved with the general terms and condi-
tions as follows:
1. Ail of Companies' leases at Leesburg Municipal
Airport will be surrendered upon payment as provided below and
all accrued unpaid rents waived and the Companies shall memorialize
said surrender by written termination agreement within five days of
the passage of this resolution.
2. The following law suits in the Circuit Courts of
Loudoun County, Virginia, will be mutually dismissed, with prejudice
by the Companies and Town:
a) TransAmerican Airports, Inc., v. Town of Leesburg,
in Chancery No. 4860.
b) Town of Leesburg v. TransAmerican Airports, Inc.,
at Law No. 4868.
c) TransAmerican Airports, Inc. and Chantilly
Aviation, Inc., v. the Town of Leesburg, at
Law No. 5082.
A RESOLUTION:
3. The Companies, their officers and stockholders,
and the Town will execute a general release of claims and counter-
claims between the Companies, their officers and stockholders, and
the Town, and any present or former members of the Town Council
or their agents.
4. The attorneys for the Companies will submit
an opinion running to the Town, in a form approved by the town
attorney, that termination of the above-mentioned leases does not
constitute an act of bankruptcy, that there are no liens or
encumbrances against the leasehold interest of the Companies, and
that all corporate acts and proper legal steps have been taken for
a valid surrender of th~ leases.
5. Th~ Town will pay the sum of $70,000 to Hall,
Monahan, Engle, Mahan & Mitchell, Attorneys for the Companies,
upon the execution of the releases provided for herein and
endorsement of the necessary orders dismissing the pending law
suits with prejudice by the Companies.
SECTION II. The manager is authorized and directed to
execute, on behalf of the Town, a general release in a form
approved by the Town Attorney of claims and counter-claims
against the Companies, upon (1) execution of such a general
release by the Companies, their officers and stockholders, of
claims and counter-claims against the Town and any present or
former members of the Town Council or their agents and (2) endorse-
ment by the Companies' attorneys of the orders dismissing the
pending cases, with predjudice.
SECTION III. The Town Attorney is directed to endorse
such orders of dismissal as are necessary to implement the
above described settlement.
PASSED this 2nd day of . February _ , 1977
Mary ~nne Newman, Mayor
Town of Leesburg
ATTEST:
'"' Cler~ o~ Council