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RESOLUTION #5, SERIES 1990 AND AWARD OF APPRECIATION <br />DAVID C. STAHL The Mayor presented David Stahl with a <br />Resolution of Recognition for his services as <br />City Administrator from May 1988 to December, <br />1989. <br />OTHER: <br />BOND RATING Russ Caldwell and Chris Blackwood, Kirchner <br />Moore, presented Council with the City's new <br />'.bond rating. The major national investment <br />rating services, Standard and Poors, has <br />upgraded the City's bond rating from Baa to <br />BBB+ (one point below A), and Moodys' upgrade <br />was to Baal (also one point below A). Caldwell <br />stated that this shows that the City is moving <br />in the right direction and Blackwood stated <br />that the economy in Boulder County has improved <br />tremendously over the past two years with <br />Louisville's market share of new housing <br />permits jumping from 6 to 17 percent of the new <br />housing starts in Boulder County since 1987. <br />Both agree that Louisville's sales tax <br />dependency from Storage Technology (25$) needs <br />to be reduced through economic growth to about <br />a 10$ dependency. Then the City can attain a <br />priority credit rating. <br />Caldwell commended the City's efforts and <br />stated that he has always maintained this City <br />has a better credit than its been graded. <br />Sackett asked that the Mayor write a letter to <br />the Governor Romer regarding Boulder County's <br />request to administer funds for the aging. <br />Sackett is a member of DRCOG and feels that the <br />City will be best served by the DRCOG agency <br />continuing as it has in the past. The Mayor <br />agreed to send a letter and Sackett will help <br />draft it. <br />Phare advised Council and the public that the <br />traffic lights are now installed at the <br />intersection of Via Appia and McCaslin Blvd. <br />and will be flashing for the first week to <br />alert the public to its existence prior to <br />becoming fully functional. <br />COUNCIL COMMENTS Anderson stated that he has enjoyed working <br />with this Council, staff and residents in <br />achieving many of the goals that have occurred <br />over his tenure in office and thanked everyone <br />for their attitude of "can do." <br />3 <br />