Council Approves Bond Issue For Firefighters Settlement

by Rick Howlett on May 13, 2010

The Louisville Metro Council has approved a plan to borrow $35 million to finance the remainder of a settlement with firefighters over miscalculated overtime.

The council’s budget committee had recommended this week that the settlement be financed with a combination of bonds and $10 million from the city’s rainy day fund.

But at the full council meeting Thursday, an amendment offered by Councilman Brent Ackerson to pay for the entire settlement with a ten year bond issue was narrowly approved, 13 to 11.

Ackerson said the city should protect its reserve fund in the event of a disaster, citing the flood recovery effort underway in Nashville.

Last year, Metro Government reached a $45 million settlement with hundreds of firefighters who had filed suit over the miscalculated overtime. The city has already paid the first installment of the settlement.

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