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Resolution 1304 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 RESOLUTION NO. 1304 1. PREAMBLE: The CITY OF GILROY , herea fter called entity, has previously authorized the Attorney General of the State of California to institute on its behalf one or more law suits under the Federal Antitrust Laws which law suits were in fact filed against defendants United States Steel Corporation, Smith-Scott Company, Inc., Kaiser Steel Corporation, United States Industries, Martin- Marietta Corporation, United Concrete Pipe Corporation, and American Pipe and Construction Co. 2. Pursuant to court orders, similar actions brought by the Federal Government and other plaintiffs in the States of California, Oregon, Washington and Hawaii were all coordinated before a single Federal District Court Judge. 3. In 1967 the actions against all defendants, with the exception of American Pipe and Construction Co., were settled and compromised on a lump sum basis, the pro- ceeds being distributed amongst the various plaintiffs pursuant to an agreement, all of which was duly approved and ratified by entity ana approved by the Court. 4. A condition of the acceptance of said partial settlement by certain plaintiffs not represented by the Attorney General of the State of California was an agree- ment by and between the plaintiffs concerning the conduct of the litigation still remaining against, and the allocation among plaintiffs of the expected recovery from defendant American. This agreement known to plaintiffs as the Western Associated Pipe Plaintiffs Organization 1. /30:/ ". 1 Compact provides, among other things, for (a) common 2 sharing of expenses; (b) the retention of a lead 3 counsel to prosecute and try all cases against the 4 remaining defendant American Pipe and Construction 5 Co. under the supervision of an Executive Committee 6 of the plaintiffs party to the compact; and (c) the 7 distribution of any recovery against American to 8 all plaintiffs proportionately to their verified 9 transactions with American over the fourteen year 10 period 1950 through 1963. 11 5. On July 14, 1967, the Attorney General 12 of the State of California entered into such Compact, 13 hereinafter called WAPPO, on behalf of entity. Since 14 then, the agreements embodied in the WAPPO Compact have 15 been and are being carried out with the Attorney General 16 of California as chairman of its Executive Committee. 17 6. Plaintiffsl counsel, acting through their 18 Executive Committee and lead counsel, have now negotiated l 19 and reached agreement on the terms of a settlement and 20 compromise of the litigation with defendant American 21 Pipe and Construction Co., the terms of which are more 22 fully set out in the attached document entitled "MEMORANDUM 23 OF UNDERSTANDING FOR SETTLEMENT OF WEST COAST PIPE CASES 24 BETWEEN ALL PLAINTIFFS AND AMERICAN PIPE AND CONSTRUCTION 25 COMPANY" . 26 7. Such Memorandum of Understanding provides 27 for payment by American to all plaintiffs of the lump 28 sum amount of eight million five hundred thousand 29 dollars ($8,500,000) over a period of seven years 30 with interest. 31 / 2. I, SUSANNE E. STEINNETZ, City Clerk of the City of Gilroy, do hereby certify that the attached Resolution No. 1104 is an original resolution, duly adopted by the Council of the City of Gilroy at a regular meeting of said Council held on the 6th day of January , 19~, at which meeting a quorum was present. IN WITNESS WHEREOF, 1 have hereunto set my hand and affixed the official seal of the City of Gilroy, this 7th day of Jenuary , 19~. f ,/l /~/(/)c.nvu-/ 'S?J-Z;::l-~;u'L 'City Clerk of the City of Gilro~/ \