Ordinance No. 8,524990225 -7
ORDINANCE NO. 8524
® AN ORDINANCE AUTHORIZING AND DIRECTING THE CITY ATTORNEY
TO EXECUTE AN AGREED ORDER SETTLING CASE NO. 97-50165-114-7; IN
RE: FINE ORGANICS, INC., DEBTOR, IN THE UNITED STATES
BANKRUPTCY COURT FOR THE SOUTHERN DISTRICT OF TEXAS,
HOUSTON DIVISION; AND PROVIDING FOR THE EFFECTIVE DATE
THEREOF.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS:
Section 1: That the City Council of the City of Baytown, Texas, hereby authorizes and
directs the City Attorney of the City of Baytown to execute an agreed order settling Case No. 97-
50165-H4-7; In Re: Fine Organics, Inc., Debtor, In the United States Bankruptcy Court for the
Southern District of Texas, Houston Division. A copy of said Agreed Order is attached hereto,
marked Exhibit "A," and made a part hereof for all intents and purposes.
Section 2: This ordinance shall take effect immediately from and after its passage by the
City Council of the City of Baytown.
INTRODUCED, READ and PASSED by the affirmative vote of the City Council of the City
of Baytown this the 25th day of February, 1999.
PETE C. ALFARO, Mayor
ATTEST:
EILEEN P. HALL, City Clerk
APPROVED AS TO FORM:
i�
® ACIO RAMIREZ, , City Attorney
c:k1h 144\ Counci1\ Ordinances \FineOrgan icsSettlemen(.Ord
® IN THE UNITED STATES BANKRUPTCY COURT
FOR THE SOUTHERN DISTRICT OF TEXAS
HOUSTON DIVISION
IN RE: §
FINE ORGANICS CORPORATION, § CASE NO. 97- 50165 -H4 -7
§ CHAPTER 7
Debtor §
L
AGREED ORDER
On the 25`h day of March, 1999, the Court was scheduled to hear the Motion to Value
Secured Interest Pursuant to 11 U.S.C. §506; Objection to Claim of the City of Baytown; and
Objection to Valuation of Property filed by Rodney Tow, Chapter 7 Trustee, in the above -
entitled and numbered cause. At or prior to such hearing, Counsel for both the Trustee and the
City of Baytown appeared and announced that an agreement had been reached concerning all
claims of the City of Baytown against the Estate. After having heard the announcement and
having considered the pleadings and evidence presented, the Court makes the following rulings:
IT IS HEREBY ORDERED that Rodney Tow, Trustee be, and hereby is authorized and
directed to pay $21,742.38 to the City of Baytown from the sales proceeds arising from the sale
Of substantially all of the assets of the Estate.
IT IS FURTHER ORDERED that, upon payment of the claim amounts allowed herein
to the City of Baytown, any and all liens held by the City of Baytown and any taxing authority
for whom it collects for the period through, and including 1998, be released and discharged in
frill against the real and personal property and the proceeds thereof of Fine Organics
Corporation.
SIGNED this _ day of , 1999.
Agreed Order, Page I
HONORABLE WILLIAM R. GREENDYKE
UNITED STATES BANKRUPTCY JUDGE
EXHIBIT A
® AGREED TO AND APPROVED BY:
Marilee A. Madan
State Bar No. 12789100
Russell & Madan, P.C.
4265 San Felipe, suite 250
Houston, Texas 77027
Telephone: 713 - 355 -3333
Facsimile: 713-355-3303
Attorney for Rodney Tow, Trustee
Ignacio Ramirez, Sr.
State Bar No. 16501900
City Attorney
City of Baytown
P.O. Box 424
Baytown, TX 77522 -0424
Telephone: 281- 420 -6505
Facsimile: 281 -420 -6586
Attorney for City of Baytown
0 c:klh 1441LegaASuits\ FincOrganicsBankruptcyl AgreedOrderAuthorizingPaymentwOrdinonce
Agreed Order, Page 2