STRATEGIC PRIORITY: Government Performance & Financial Management
AGENDA DATE: January 24, 2024
COUNCIL DISTRICT(S): N/A
DEPARTMENT: City Attorney’s Office
EXECUTIVE: Tammy L. Palomino
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SUBJECT
title
Authorize payment of judgment in the lawsuit styled - Trinity East Energy, LLC, v. City of Dallas, Cause No. DC-14-01443 - Not to exceed $XXX 55,000,000.00 - Financing: Series 2024A General Obligation Refunding Bonds Funds and, if necessary, Liability Reserve Fund
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BACKGROUND
Plaintiff Trinity East Energy, LLC, filed a lawsuit against the City of Dallas as a result of the City’s denial of Trinity East’s applications for specific use permits to drill for gas on certain City park land and adjacent private land. On February 27, 2020, judgment was entered against the City of Dallas and in favor of Trinity East Energy, LLC, in the amount of $44,583,195.21. Post-judgment interest accrues on the judgment at a rate of 5% per annum until paid. Plaintiff is represented by Art Anderson of Winstead PC.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
An executive session briefing regarding this matter was provided to the City Council on January 10, 2024.
FISCAL INFORMATION
|
Fund |
FY 2024 |
FY 2025 |
Future Years |
|
Series 2024A General Obligation Refunding Bonds Funds and, if necessary, Liability Reserve Fund |
$0.00 55,000,000.00 |
$0.00 |
$0.00 |