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10-28-21-8.11 - Resolution - 10/28/2021 RESOLUTION NO. 10-28-21-8.11 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS, SUPPORTING THE ADOPTION AND APPROVAL OF THE TEXAS OPIOID ABATEMENT AND FUND COUNCIL AND SETTLEMENT ALLOCATION TERM SHEET. WHEREAS, the City of College Station has obtained information indicating that the State of Texas joined a broad coalition of states and political subdivisions in suing certain drug companies and their corporate affiliates, parents, subsidiaries, and such other defendants as may be added to the litigation (collectively, “Defendants”) for allegedly engaging in fraudulent and/or reckless marketing and/or distribution of opioids that have resulted in addictions and overdoses; and WHEREAS, these alleged actions have resulted in significant financial costs to the City of College Station; and WHEREAS, on May 13, 2020, the State of Texas, through the Office of the Attorney General, and a negotiation group for Texas political subdivisions entered into an Agreement entitled Texas Opioid Abatement Fund Council and Settlement Allocation Term Sheet (hereafter, the “Texas Term Sheet”) attached hereto as Exhibit “A”, approving the allocation of any and all opioid settlement funds within the State of Texas; and WHEREAS, Special Counsel and the State of Texas have recommended that the City Council of the City of College Station support the adoption and approval the Texas Term Sheet in its entirety; now, therefore, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS: PART 1: That the facts and recitations set forth in this Resolution are declared true and correct. PART 2: That the City Council finds there is a substantial need for repayment of opioid- related expenditures and payment to abate opioid-related harms in and about the City of College Station. PART 3: That the City Council supports in its entirety and hereby adopts the allocation method for opioid settlement proceeds as set forth in the Texas Term Sheet, attached hereto as Exhibit A, understanding that the purpose of this Texas Term Sheet is to permit collaboration between the State of Texas and Political Subdivisions to explore and potentially effectuate resolution of the opioid litigation and to create an effective means of distributing any potential settlement funds obtained under this Texas Term Sheet between the State of Texas and Political Subdivisions in a manner and means that would promote an effective and meaningful use of the funds in abating the opioid epidemic in College Station and throughout Texas. PART 4: That this Resolution shall take effect immediately from and after its passage. ADOPTED this 28th day of October, 2021. ATTEST: APPROVED: ______________________________ _________________________________ City Secretary MAYOR APPROVED: _______________________________ City Attorney EXHIBIT A