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10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />WHEREAS, copies of the proposed terms of those proposed nationwide <br />settlements have been set forth in the Distributors Master Settlement Agreement and the <br />J&J Master Settlement Agreement (collectively "Settlement Agreements"); and <br />WHEREAS, copies of the Settlement Agreements have been provided to the City <br />Council with this Resolution; and <br />WHEREAS, the Settlement Agreements provide, among other things, for the <br />payment of a certain sum to settling government entities in California including to the <br />State of California and Participating Subdivisions upon occurrence of certain events as <br />defined in the Settlement Agreements ("California Opioid Funds"); and <br />WHEREAS, California local governments in the MDL have engaged in extensive <br />discussions with the State Attorney General's Office ("AGO") as to how the California <br />Opioid Funds will be allocated, which has resulted in the Proposed California State - <br />Subdivision Agreement Regarding Distribution and Use of Settlement Funds- Distributor <br />Settlement and Proposed California State -Subdivision Agreement Regarding Distribution <br />and Use of Settlement Funds- Janssen Settlement (collectively the "Allocation <br />Agreements,") which are agreements between all of the entities identified in the <br />Allocation Agreements; and <br />WHEREAS, copies of the Allocation Agreements have been provided with this <br />Resolution; and <br />WHEREAS, the Allocation Agreements allocate the California Opioid Funds as <br />follows: 15% to the State Fund; 70% to the Abatement Accounts Fund; and 15% to the <br />Subdivision Fund. For the avoidance of doubt, all funds allocated to California from the <br />Settlements shall be combined pursuant to Allocation Agreements, and 15% of that total <br />shall be allocated to the State of California (the "State of California Allocation"), 70% to <br />the California Abatement Accounts Fund ("CA Abatement Accounts Fund"), and 15% to <br />the California Subdivision Fund ("CA Subdivision Fund"); and <br />WHEREAS, under the Settlement Agreements, certain local subdivisions that did <br />not file a lawsuit against the Settlement Defendants may qualify to participate in the <br />Settlement and obtain funds from the CA Abatement Accounts Fund; and <br />WHEREAS, the City is eligible to participate in the Settlement and become a CA <br />Participating Subdivision by executing a Participation Agreement for each of the <br />settlements; and <br />RVPUBWXM\W167A - 2 - <br />