SUBJECT:
Action regarding Resolution No. 2022-05, Authorizing the City Manager to Execute Global Opioid Settlement Documents relating to the Teva Pharmaceutical Companies and the Endo Pharmaceutical Companies
BACKGROUND/DISCUSSION:
On October 19, 2021 the City Council approved Resolution No. 2021-26 which authorized the execution of Global Opioid Settlement Documents and adopted the Texas Term Sheet. Proposed Resolution No. 2022-05 authorizes the execution of Global Opioid Settlement documents relating to the Teva Pharmaceutical Companies and the Endo Pharmaceutical Companies. This resolution is required in order for the City to participate in the settlement.
FINANCIAL IMPACT:
The financial impact will be the anticipated receipt of funds resulting from the Teva and Endo Opioid Settlements.
RECOMMENDATION:
Staff recommends approval. |