Title
Resolution authorizing an emergency appropriation of revenue in the amount of $7,500,000 as a result of unbudgeted settlement funds and the same amount in expense for an undesignated purpose.
Staff Summary
* In 2022, Lake County was notified of City of Long Beach v. Monsanto Class Action litigation regarding PCB contamination in certain impaired waterbodies. The class action settlement impacted all NPDES Phase I and II MS4 permittees with urbanized, unincorporated boundaries within a HUC 12 Watershed that contained or was immediately adjoining a 303(d) water body impaired by PCBs, as of June 24, 2020 only, but not later.
* As a recipient of settlement allocation in the TMDL Fund, Lake County received $7,500,000 in April 2023.
* The settlement agreement does not include limitations on the use of the settlement funds as it contemplates the impacts have already occurred and been dealt with by the settling class members. The settlement is in exchange for release of claims that could have been raised including those that could be brought by third parties in a derivative manner for or against a portion of the allocated settlement funds. The County is not currently aware of any potential derivative manner type claims against the County.
* This action appropriates the revenue and the expense for an undesignated use. Without this action, the funding would be considered unbudgeted miscellaneous revenue that would fall into fund balance at the end of Fiscal Year 2023.
Body
RESOLUTION
WHEREAS, Lake County is a participant in the City of Long Beach v Monsanto Class Action litigation regarding PCB contamination in certain impaired waterbodies; and
WHEREAS, Lake County received $7,500,000 in April 2023 as a result of the class action settlement; and
WHEREAS, the settlement agreement does not include limitations on the use of settlement funds.
NOW, THEREFORE, BE IT RESOLVED, that the Lake County Board hereby authorizes an emergency appropriation in Fiscal Year 20...
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