VILLA PARK : Council Picks Counsel for County Settlement
The City Council has agreed to join other Orange County cities in retaining special legal counsel to guard their interests in the county bankruptcy settlement.
By unanimous vote, the council last week authorized the city to spend about $1,500 as its proportional share of the attorney fees.
The attorneys, Paul R. Glassman and the firm of Mitchell, Silberberg & Knupp represent cities that had funds in the Orange County investment pool. The pool is now in bankruptcy, and the cities recently reached agreement with the county on how their investment money would be repaid.
The legal counsel jointly hired by the cities will “monitor the settlement,” said Villa Park City Manager Fred Maley. Maley told the City Council on Tuesday that each city pays a portion of the legal fee based on the city’s proportion of money in the bond pool.
“Our share would probably be no more than $1,500,” Maley said. He noted that Villa Park, with about $1 million in the county pool, is among the smallest of city investors.
The city of Irvine and its manager, Paul O. Brady Jr., are acting as the coordinators with all the other cities in the legal counsel agreement.
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