3-7-1 Settlement Authority In General.
No settlement of any kind or description, payment of which is to be made from funds of the Town or which settlement would result in the Town receiving services or compensation less than owed to the Town, shall be made by any officer, employee, or agent of the Town, except in the manner set forth in this Article.
A. Under $10,000. Whenever any contemplated settlement of a claim by or against the Town is for the sum of not more than $10,000, after due consideration and in the best interest of the residents of the Town, the Town Attorney, in consultation with the Town’s Risk Manager, is authorized to settle said claim.
B. Greater than $10,000 but not more than $20,000. Whenever any contemplated settlement of a claim by or against the Town is for greater than $10,000 but not more than $20,000, after due consideration and in the best interest of the Town, the Town Manager, in consultation with the Town Attorney and the Town’s Risk Manager, is authorized to settle said claim.
C. Greater than $20,000. No settlement of more than $20,000 shall be entered into except with the approval of the Council. ((O)02-03, 01/09/2002)