downard

by Gabe Bullard

The Louisville Metro Council Budget Committee has approved a plan for financing payments to underpaid firefighters.

The committee spent weeks debating how to make about $35 million in payments in a settlement with the firefighters over miscalculated overtime.  The body was split between issuing bonds to finance the payments and tapping the city’s rainy day fund. Tapping the fund could hurt the city’s credit rating, while bonds accrue interest.

The committee Wednesday night voted to compromise and pay ten million dollars out of reserves while bonding the rest. Vice-chair Kelly Downard says he thinks the measure will pass the full council Thursday.

“It was a unanimous vote and I think that sends to the rest of the council a word that says, ‘We’ve looked at this hard the way you asked us to for about a month and a half and we came up with several scenarios and we’ve chosen one that we’ve agreed on unanimously and I think they’ll go along with that,” he says.

The city’s reserve fund has about $65 million. Downard says he now hopes to work on a plan for restoring the funds that will be spent.

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Budget Committee Reviews Firefighter Settlement Payment Plans

by Gabe Bullard April 20, 2010

The Budget Committee of the Louisville Metro Council continued its discussion of how to finance the final $30 million in a settlement with underpaid firefighters. The committee Tuesday tabled an ordinance that would have issued bonds to make the payments.

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A Louisville Metro Councilman says the recent resignation of two government employees is a sign of financial mismanagement.

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by Gabe Bullard A resolution addressing utility rate increases will be given first reading in Thursday’s Metro Council meeting. The Louisville Gas and Electric company is asking the Public Service Commission to approve a rate increase. for infrastructure improvements and to recoup losses from ice and wind storms. The resolution asks the PSC to deny […]

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by Gabe Bullard January 27, 2010

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by Gabe Bullard November 19, 2009

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Downard Authors Mayoral Succession Resolution

by Gabe Bullard November 18, 2009

The Louisville Metro Council Thursday will give first reading to a resolution that seeks to change the succession process for the mayor’s office.

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The Louisville Metro Council’s Accountability and Oversight Committee has begun discussing a proposal for mayoral term limits.

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