Authorize settlement of the lawsuit styled, Sharon Stolte, as Liquidating Agent of the Continental American Corporation Liquidating Trust v. Dallas Water Utilities, Case No. 23-10938-11, Adversary Proceeding No. 25-05056 - Not to exceed $70,001.02 - Financing: Dallas Water Utilities Fund

This resolution authorizes the settlement of a lawsuit filed by Sharon Stolte, as Liquidating Agent of the Continental American Corporation Liquidating Trust, against Dallas Water Utilities. The lawsuit concerned a payment of $70,001.02 made by the debtor to Dallas Water Utilities on August 8, 2023, which was within the 90-day preference period before the company filed for Chapter 11 bankruptcy. The City has agreed to pay $70,001.02 to settle the claim, which is deemed to be in the City's best interest. The funds will be paid from the Dallas Water Utilities Fund.

This settlement involves a one-time payment of $70,001.02 from the Dallas Water Utilities Fund to resolve a legal claim related to a past payment. This action is administrative and does not directly impact resident utility rates or services.

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