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Josephine council votes to approve Purdue Pharma bankruptcy reorganization settlement
Summary
Council adopted a resolution to approve the Purdue Pharma bankruptcy reorganization plan, opting into distributions tied to Purdue’s asset transfer and Sackler-family payments; staff said the city's likely share is modest and recommended maintaining proper recordkeeping for any received funds.
The City of Josephine voted on Sept. 8 to adopt a resolution approving Purdue Pharma’s bankruptcy reorganization plan as presented to participating political subdivisions.
Jason (staff/legal) briefed council on the structure of the settlement and the related Sackler-family payments. He summarized key components: Purdue’s assets and about $900 million in cash will be contributed to a public-benefit entity for opioid treatment and related programs; additional payments from the Sackler family would be paid over 15 years and the plan includes a document repository of company records. "A significant portion of the settlement funds will be distributed in the first three years," Jason said.
Council discussed likely local financial impacts and program uses. Dr. Pam Sardo noted past Texas distributions and recounted that Josephine’s prior allocations had been in the low thousands (she referenced earlier local distributions of roughly $800–$1,200). Jason advised that the city could decline to opt in and pursue direct litigation, but doing so would limit access to the asset pool being created under the reorganization plan.
After brief discussion about potential uses (Narcan purchases, school education and recordkeeping requirements), Council Member moved to adopt the resolution and the motion carried.
The resolution directs city staff to track any receipts and to follow state guidance on allowable uses as funds are disbursed over the coming years.
