HomeMy WebLinkAboutResolution 1997 (24) RESOLUTION APPROVING SETTLEMENT AGREEMENT
WITH THE STATE OF WISCONSIN, ARR, AND PRUDENTIAL
Resolution No. c'1 (9
St. Croix County, Wisconsin
WHEREAS, St. Croix County has a lawsuit pending against American Resource Recovery
(ARR), Prudential Insurance Company of America, and Prudential Interfunding Corporation
relating to the ARR incinerator and a $100,000 escrow account at the First National Bank of
Hudson; and
WHEREAS, the State of Wisconsin has a lawsuit pending against ARR related to the
ARR incinerator; and
WHEREAS, representatives of the parties to the lawsuits have negotiated a settlement
agreement; and
WHEREAS, the Finance Committee passed a motion on September 11, 1997
recommending acceptance of the settlement agreement; and
WHEREAS, the terms of the settlement agreement are as follows:
1. ARR and Prudential will release claims they may have for the escrow account and ARR
will direct the bank to release the $100,000 to the County.
2. Prudential will release its mortgage on the real property (the incinerator building and land)
and ARR will deliver to the County a quit claim deed for the real property.
3. The County will be responsible for site clean up by removing contaminated soil from areas
identified in DNR reports.
4. Prudential shall have the right to remove any equipment from the building, other than
equipment necessary to provide the building with utility services or necessary to maintain
the structural integrity of the building, until December 31, 1997. Any equipment
remaining in the building after December 31, 1997, shall become the property of the
County. Prudential will repair any damages to the building caused by removal of
equipment.
5. Any other claims the County has against ARR shall be released.
6. Prudential and ARR will release any and all claims they may have against the County.
7. The County agrees with the State of Wisconsin to clean up the site by no later than
December 15, 1997.
THEREFORE, be it resolved by the St. Croix County Board of Supervisors that the terms
of the settlement agreement are approved;
FURTHER, be it resolved that the Corporation Counsel is hereby authorized to sign the
settlement agreement on behalf of St. Croix County.
ifp Dated this 14, day of Q.. � t y ,.,, O , 1997.
Offered by: Finance Committee
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STATE OF WISCONSIN
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