A resolution authorizing the Department of Law to settle the Metropolitan Government of Nashville and Davidson County's claim in Leap Wireless International, Inc. and Cricket Communications Inc. Chapter 11 bankruptcy, for the payment of nine hundred and fifty thousand dollars ($950,000.00) to the Metropolitan Government.

WHEREAS, Leap Wireless International, Inc. and Cricket Communications, Inc. filed for Chapter 11 bankruptcy on April 13, 2003 in the United States Bankruptcy Court, Southern District of California, Docket No. 03-03470-A11; and

WHEREAS, the Metropolitan Government filed a proof of claim and an administrative claim for unpaid utility personalty property taxes for tax years 2002 and 2003 respectively, with base tax amounts equaling $838,306.32 for 2002 and $263,453.37 for 2003, and penalty and interest; and

WHEREAS, Leap Wireless International, Inc. and Cricket Communications, Inc. contest the claim; and

WHEREAS, Leap Wireless International, Inc. and Cricket Communications, Inc. have agreed to settle the Metropolitan Government's tax claims by paying the Metropolitan Government a lump sum in the amount of nine hundred and fifty thousand dollars ($950,000.00); and

WHEREAS, after a thorough investigation, the Metropolitan Department of Law believes that the settlement is fair and reasonable and in the best interest of the Metropolitan Government, and recommends that the settlement be accepted.

Now, therefore, be it resolved by the Council of the Metropolitan Government of Nashville and Davidson County:

Section 1. That the Metropolitan Department of Law is authorized to settle the Metropolitan Government's claim in the Leap Wireless International, Inc. and Cricket Communications, Inc. Chapter 11 bankruptcy case for the payment by Leap Wireless International, Inc. and Cricket Communications, Inc. to the Metropolitan Government the sum of nine hundred and fifty thousand dollars ($950,000.00), and to deposit said funds into the appropriate fund and account as determined by the Director of Finance.

Section 2. That this resolution shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

Sponsored by: Diane Neighbors

LEGISLATIVE HISTORY
Referred:	Budget & Finance Committee
Introduced:	April 19, 2005
Adopted:	April 19, 2005
Approved:	April 21, 2005
By: