HomeMy Public PortalAboutResolution 01:280No. 01-280 Date of Adoption September 6, 2001
TO AMEND RESOLUTION # 01-113 AUTHORIZING
STIPULATION OF SETTLEMENT AND GENERAL
RELEASE/DENNIS NAGY
WHEREAS, by Resolution # 01-113, the Mayor and Council of the Borough of
Carteret approved a global settlement of the matter of Dennis Nag¥ v. The
Borough of Carteret, Docket No. CSVLT 08263-99S and the matter of Dennis
Nagy v. Borough of Carteret, et al. Civil Action No. 98Civ 3664(AMW); and
WHEREAS, pursuant to said Resolution the Mayor and Borough Clerk were
authorized to execute a Stipulation of Settlement and General Release setting
forth the terms of the settlement and to take all appropriate and necessary actions
to fulfill its terms and conditions; and
WHEREAS, said Settlement Agreement was contingent upon the New Jersey
Division of Pensions and Benefits approving the terms of the same providing that
Nagy be eligible to retire with twenty-five (25) years of service credit through
April 1, 2001; and
WHEREAS, the Pension Board required modifications to the Settlement
Agreement in order for said contingency to be satisfied; and
WHEREAS, the Borough's Insurance Carrier in the pending litigation of Nagy v.
The Borough of Carteret, et al. Civil Action No. 98-Civ 3664(AMW) has agreed
to reimburse the Borough for the cost of the modifications required by the
Pension Board to the above referenced Settlement Agreement, thereby relieving
the Borough of any additional cost for the same; and
WHEREAS, the Governing Body of the Borough of Carteret believes that
resolution of the foregoing matters pursuant to the terms of the modified
Stipulation of Settlement and General Release is in the best interest of the citizens
and taxpayers of Carteret.
NOW, THEREFORE, BE IT RESOLVED by the Mayor and Council of the
Borough of Carteret, County of Middlesex, State of New Jersey, that the modified
Stipulation of Settlement and General Release is hereby approved, replacing the
prior Settlement and Release Agreement
BE, IT, FURTHER RESOLVED, that the Mayor and Borough Clerk are hereby
authorized to execute the Settlement Agreement and General Release as modified
in a form acceptable to the Borough Attorney, and the appropriate Borough
Officials are hereby authorized to implement the terms and conditions of the
aforesaid Settlement Agreement and General Release and to take such other
actions as may be required to implement the foregoing; and
~o.01-280 PAGE 2
BE, IT, FURTHER RESOLVED, that the retirement of Dennis Nagy from the
Carteret Police Department effective April 1, 2001 is accepted.
Adopted this 6th day of September, 2001
and certified as a true copy of the
original on September 7, 2001.
KATHLEEN M. BARNEY
Municipal Clerk
RECORD OF COUNCIL VOTE
OUINONES .q~NTn~n
T _
REI~AN SOHAYDA
X - lndicaie Voto AB - Absent NV - Not Voting XOR - l,dicales Vole to Overrule Veto
Adopted at a meeting of the Municipal Council ' ) September 6~ 2001
/ .- -* CL/ERK ~