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Los Gatos votes to opt into Purdue Pharma settlement; staff to evaluate local uses
Summary
The Town Council unanimously authorized staff to enter the state subdivision settlement for the Purdue Pharma bankruptcy, choosing to accept the town’s share (estimated comparably to prior settlements) and directing staff to assess eligible local uses and administrative requirements.
The Town of Los Gatos council voted unanimously on Sept. 2 to participate in the Purdue Pharma bankruptcy settlement and accept the town’s share of settlement proceeds rather than assigning the town’s allotment to Santa Clara County.
Town staff explained that the ultimate payment to the town depends on the number of jurisdictions that opt in; staff suggested the town’s dollar amounts could be similar to prior pharmaceutical…
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