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Ray replied that he has a family and children and he is not purchasing a backup electrical <br />generator. <br /> <br />Davidson thanked Ray for his presentation and commended him for being extremely <br />informative on the Y2K issue. <br /> <br />1998 AUDIT & MANAGEMENT LETTER <br /> <br />Kendra Padgett, Audit Manager for Bondi & Company presented the 1998 Audited <br />Financial Statements and The Comprehensive Annual Financial Report for the City of <br />Louisville. She provided a brief review of the reports to Council. <br /> <br />Howard asked Padgett to explain the golf course bond rating of A3. <br /> <br />Padgett replied that different bond rating agencies rate the quality of the City's bonds. She <br />explained that a better bond rating results in a lower interest rate on future bonds. She <br />stated that some investors only invest in a certain grade or quality of bonds, therefore, <br />this rating increases the number of individuals that could invest in the City's bonds. <br /> <br />Sisk reported that several of the suggestions that were made by Bondi & Company were <br />discussed at the Finance Committee meeting and are under way for implementation. <br /> <br />Lathrop stated that he believes that the City of Louisville can be debt-free by the year <br />2008. He reported that the City's indebtedness was reduced from $25,800,000 to <br />$19,252,000. He stated that it would be an extraordinary accomplishment for a city the <br />size of Louisville to be debt-free. He commended his fellow Councilmembers for their <br />pursuit of that goal. <br /> <br />Howard agreed with Lathrop. <br /> <br />Davidson commended Bondi & Company for always providing the City of Louisville <br />with good advice. <br /> <br />PRESENTATION - THE EQUALITY OF WOMEN & MEN <br /> <br />Marty McCloskey, 1491 N Filmore Place, Louisville, and Jilla Sabeti, 979 Arapahoe <br />Circle, Louisville presented copies of the booklet Two Wings of a Bird - the Equality of <br />Women and Men, prepared by the National Spiritual Assembly of the Baha'is of the <br />United States to Council. <br /> <br />ORDINANCE 1287, SERIES 1998 - AMENDING CHAPTER 17.20 OF THE <br />LOUISVILLE MUNICIPAL CODE AND THE LOUISVILLE COMMERCIAL <br />DEVELOPMENT DESIGN STANDARDS AND GUIDELINES TO REQUIRE <br />THAT ALL DEVELOPMENT WITHIN DOWNTOWN LOUISVILLE MEET <br />SPECIFIC OFF-STREET PARKING REQUIREMENTS - PUBLIC HEARING <br />(ADVERTISED IN DAILY CAMERA 2/21/99) <br /> <br />4 <br /> <br /> <br />