R24-035 1 RESOLUTION NO. R24-035
2 A RESOLUTION OF THE CITY OF BOYNTON BEACH, FLORIDA,APPROVING
3 AND AUTHORIZING THE CITY ATTORNEY TO SUBMIT A VOTING BALLOT
4 TO ACCEPT THE BANKRUPTCY PLAN AND TO APPOINT THE
5 CHAIRPERSON AS SPECIAL PROXY TO VOTE IN FAVOR OF THE SCHEME
6 AT THE RELEVANT SCHEME MEETING AND ANY ADJOURNMENT
7 THEREOF IN THE MATTER OF ENDO INTERNATIONAL, PLC, ET AL.,WHICH
8 WILL ENABLE THE CITY TO PARTICIPATE IN THE PUBLIC OPIOID TRUST;
9 AND PROVIDING AN EFFECTIVE DATE.
10 WHEREAS, the opioid epidemic is the single worst man-made public health crisis of
11 our time, with countless lives having been devastated by the opioid crisis, and the number
12 continues to grow; and
13 WHEREAS, in 2021, the City of Boynton Beach, recognizing the devastation of the
14 opioid crisis, opted into the Opioid Class Action Litigation; and
15 WHEREAS, one of the Defendants of that litigation, Endo International, PLC, has filed
16 Chapter 11 Bankruptcy in the United States Bankruptcy Court, Southern District of New York;
17 and
18 WHEREAS, the City has recently received a Joint Ballot for Voting to Accept or Reject
19 the Second Amended Joint Chapter 11 Plan of Reorganization of Endo International, PLC, and
20 its Affiliated Debtors and a Proxy for Voting on the Scheme of Arrangement of Endo
21 International, PLC; and
22 WHEREAS, the City Commission of the City of Boynton Beach, Florida, upon the
23 recommendation of staff, deems it to be in the best interests of the City residents to approve
24 and authorize the City Attorney to submit a voting ballot to accept the Plan and to appoint the
25 Chairperson as special proxy to vote in favor of the Scheme at the relevant Scheme Meeting
26 and any adjournment thereof in the matter of Endo International, PLC, et al., which will enable
27 the City to participate in the Public Opioid Trust.
28 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF
29 BOYNTON BEACH, FLORIDA, THAT:
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30 Section 1. Each Whereas clause set forth above is true and correct and
31 incorporated herein by this reference.
32 Section 2. The City Commission of the City of Boynton Beach, Florida, does hereby
33 approve and authorize the City Attorney to submit a voting ballot to accept the Plan and to
34 appoint the Chairperson as special proxy to vote in favor of the Scheme at the relevant Scheme
35 Meeting and any adjournment thereof in the matter of Endo International, PLC, et al., which
36 will enable the City to participate in the Public Opioid Trust.
37 Section 3. That this Resolution shall become effective immediately upon passage.
38 PASSED AND ADOPTED this 20th day of February, 2024.
39 CITY OF BOYNTON BEACH, FLORIDA
40 YES NO
41
1.7
42 Mayor-Ty Penserga
43
44 Vice Mayor-Thomas Turkin
45
46 Commissioner-Angela Cruz
47
48 Commissioner-Woodrow L. Hay
49 7
50 Commissioner-Aimee Kelley
51
52 VOTE 5-0
53 AT S :
54
55 t .._ _ ____
56 Maylee D: -sus, MPA MC Ty Pen, rga
57 City Cle k Ma %r
58
59 �-r& gOYNTp`� '1. APPROVED AS TO FORM:
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60 (Corporate Seal) ; •• y
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62 �� ;•INCORPORATEDC Q�rna( ,6
63 �� ;1920 Shawna G. Lamb
64 ,`\% i tORIOP•• '" City Attorney
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