A RESOLUTION AUTHORIZING DEPOSIT OF
RETAINED FUNDS IN FULL SETTLEMENT OF LAWSUIT
WHEREAS, a lawsuit has been filed in which the Village is a named defendant relative to a dispute over certain work at the Joint Vernon Hills Athletic Complex Development project, Case No. 03 CH 03466; and
WHEREAS, the Village has $25,271.00 in retainage on the project; and
WHEREAS, deposit of the funds with the Court of Cook County will allow the court to decide who is entitled to the funds and will result in the dismissal of the Village, with prejudice, from the lawsuit.
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF VERNON HILLS, LAKE COUNTY, ILLINOIS:
THAT, the President and Village Board authorize the Village Attorney to deposit $25,271.00 in currently held retainage funds with the Circuit Court of Cook County to resolve this lawsuit and which will result in the dismissal of the Village, with prejudice, from the lawsuit.
Adopted by roll call vote as follows:
AYES: 6- Cashman, Duros, Hebda, Koch, Weil, Williams
NAYS: 0- None
ABSENT AND NOT VOTING: 0- None
Roger L. Byrne
Jeanne M. Schwartz