Councilman Jon Ackerson to Propose Using Reserves to Pay for Firefighter Settlement
Wednesday November 18, 2009
Louisville Metro Council
FOR IMMEDIATE RELEASE
MEDIA CONTACT: STEPHEN HAAG, JR.
574-1204 / 645-1752
Louisville, KY – Metro Councilman Jon Ackerson (District 18) will hold a press conference to announce his sponsorship of an ordinance that will require rainy day funds be used to pay for the recent settlement by Metro Government in a dispute between old City of Louisville and 834 active and retired Firefighters.
“The Louisville Metro Council is poised to accept a settlement between Metro and fighters during Thursday’s council. I am submitting this ordinance to make sure our rainy day funds are used to pay for this settlement and not burden our grandchildren with this debt.” – Councilman John Ackerson (District 18)
The settlement, which calls for the payment of $45 million dollars plus related employer costs, in three installments is to be voted on by the Metro Council during their meeting on Thursday, November 19. The settlement calls for three payments to the active and retired firefighters, with the first payment of $15.8 million being made in December. The first payment is proposed to be paid from general fund reserves and the sale of an investment in the fiduciary fund. Councilman Ackerson’s ordinance will require the next two payments of $14.3 million (due in March 2010) and $14.9 million (due in July 2010) be paid for exclusively through general fund monies. In the proposed ordinance, the funding for the related employer cost is not suggested. Until the amount of related employer cost has been determined, Councilman Ackerson is not ready to recommend a vehicle for its funding.
Who: Councilman Jon Ackerson
Where: Metro Council Chambers
601 W. Jefferson Street
When: 10 a.m. – Wednesday November 18, 2009
Jon Ackerson (R) 18