HomeMy Public PortalAboutR1382 R E S O L U T I O N NO. 1382
WHEREAS, Colt Industries Operating Corp. sold and
delivered to the U. S. Army Corps of Engineers certain pumping
equipment for installation at the following pumping stations:
Arsenal, Baden, Prairie, Ferry, Ferry Pond, Salisbury, Branch,
Benton, Chambers, Brooklyn, Dickson, Carr, Mill Creek, Miller,
Trudeau, Barton, Louisa, and Utah; and
WHEREAS, the U. S. Army Corps of Engineers has turned
over to The Metropolitan St. Louis Sewer District the
aforementioned pumping stations and equipment; and
WHEREAS, The Metropolitan St. Louis Sewer District
wishes to make certain adjustments regarding said equipment with
Colt Industries Operating Corp.,
BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE
METROPOLITAN ST. LOUIS SEWER DISTRICT:
That the Executive Director be and he is hereby
authorized to execute for and in behalf of The Metropolitan St.
Louis Sewer District a Settlement Agreement and Release with Colt
Industries Operating Corp. (a copy of which is attached hereto and
made a part of this Resolution) for adjustments regarding pumping
equipment at certain District pumping stations.
The foregoing Resolution was adopted February 27, 1974.
1/16/74 SETTLEMENT AGREEMENT AND RELEASE
AGREEMENT, dated as of ___________ 1974, by and between
THE METROPOLITAN ST. LOUIS SEWER DISTRICT, a corporation and
subdivision of the State of Missouri with offices at 2000 Hampton,
St. Louis, Missouri (the "District") and COLT INDUSTRIES OPERATING
CORP, acting by and through its Pump Division a Delaware
corporation, with offices at 3601 Kansas Avenue, Kansas City,
Kansas 66110 ("Colt").
WITNESSETH:
WHEREAS, Colt has sold and delivered to the U.S. Army
Corps of Engineers (the "Corps"), and to persons and firms having
construction contracts directly or indirectly with the Corps,
pumping equipment (the "Equipment") for installation at the
pumping stations listed in Exhibit A to this Agreement (the
"Pumping Stations") which were constructed by the Corps as part of
the St. Louis Flood Protection Project; and
WHEREAS, the Pumping Stations, including the Equipment,
have been turned over to the District and the Corps has no further
right or interest in the Equipment; and
WHEREAS, the District claims that certain units of the
Equipment have failed in operation and are defective; and
WHEREAS, Colt, without acknowledging that it has any
responsibility for such failures or that the Equipment is
defective or that Colt has any legal obligation with respect to
any alleged failures or defects, desires to reach an amicable
agreement with the District concerning these claims.
NOW THEREFORE, in consideration of the foregoing and
the mutual covenants contained herein, the District and Colt agree
as follows:
1. Within thirty (30) days after the execution of
this Agreement by the District and its return to Colt, Colt will
pay to the District Sixty-two Thousand and 00/100 Dollars
($62,000.00) as a reduction in the purchase price of the
Equipment.
2. In consideration of the refund and payment of such
amount, the District shall and hereby does forever release and
discharge Colt from any and all past, present, and future claims
and causes of action, of whatsoever kind or nature, arising out of
or in any manner connected with the Equipment.
3. The District represents and warrants that it is
the sole owner of the Equipment and has full responsibility for
its operation and use and the District agrees to indemnify and
hold harmless Colt from and against any and all claims and causes
of action, of whatsoever kind and nature, asserted by third
parties arising out of or in any manner connected with the
Equipment.
IN WITNESS WHEREOF, the parties have executed this
Agreement on the day and year first above written. THE METROPOLITAN ST. LOUIS SEWER DISTRICT (Seal) Attest: ________________________ By _____________________________________ Executive Director COLT INDUSTRIES OPERATING CORP, acting by and through its Pump Division
(Seal) Attest: ______________________ By __________________________________ President EXHIBIT "A" PUMPING STATIONS Arsenal Baden Prairie Ferry Ferry Pond Salisbury Branch Benton Chambers Brooklyn Dickson Carr Mill Creek Miller Trudeau Barton Louisa Utah