The Board of Water Works voted Tuesday to approve the loan, which will be used to pay a $14 million settlement with a group of retired firefighters who were underpaid for overtime work.
Louisville Metro Government will borrow ten million dollars from the Louisville Water Company to settle its lawsuit with firefighters. The city owes retired firefighters 14.2 million dollars because of years of miscalculated overtime.
“Our board and Metro Council asked us to really look at our spending, look at our expenses and see what we could do to trim back. And we went back to the table and we’re real happy that we were able to do a 3.75 percent rate increase,” said spokesperson Kelly Dearing-Smith.