ORDINANCE NO. 21-40
APPROVING THE PURDUE PHARMA BANKRUPTCY PLAN AND DECLARING AN EMERGENCY
Sponsored By: Harvey
WHEREAS, the City of Ironton is involved as a Plaintiff in litigation against various pharmacy companies, including Purdue Pharma L.P.; and,
WHEREAS, the City of Ironton has been fully informed of the proposed bankruptcy plan submitted on behalf of Purdue Pharma L.P.; and,
WHEREAS, the City of Ironton believes it to be in the best interest of the City of Ironton in furtherance of the continued litigation to approve the bankruptcy plan; and,
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF IRONTON, OHIO:
SECTION I: That the Council of the City of Ironton hereby approves the bankruptcy plan submitted by Purdue Pharma L.P.
SECTION II: This Resolution shall be declared an emergency necessary for the protection of the health, safety and welfare of the residents of the City of Ironton, Ohio.
Adopted this _____ day of __________________________, 2021, at Ironton, Ohio.