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in this agenda item. The first concerned an <br />operation assessment which would be approximately <br />7~ of the operation<~1 budget for 1988--comprising <br />the City's share of $26,345. The second item <br />requested a loan comprising approximately 4~ of <br />the total cost, to be used specifically for <br />centerline engineering and financial studies for <br />W-470. The loan would be paid back from the first <br />moneys accrued at bonding for this project. <br />Leon Wurl, ExecutivE~ Director of the W-470 <br />Authority was present, and stated that he would be <br />available to answer any questions. <br />Mayor Fauson recognized Mr. Chuck Wright, a <br />Louisville resident. Wright expressed concern <br />that allocations for W-470 were not being made <br />with the best interE~st of the citizens of <br />Louisville in mind. Wright then suggested that the <br />only way to determine the views of the residents <br />of Louisville concerning the City of Louisville <br />pursuing its' activities with the W-470 Authority, <br />was to put the question to the voters. <br />Szymanski stated that due to frequency of meetings <br />concerning the W-470 project in the past year, the <br />citizens of Louisville have had numerous <br />opportunities, and have taken advantage of these <br />opportunities, to express their views and concerns <br />in relation to this project. Based on this input <br />and information Szymanski feels that the Council <br />has determined that it is in the best interests of <br />the Louisville residents to be part of the W-470 <br />Authority. <br />Szymanski then addressed the agenda item, <br />reaffirming Louisville's commitment to the W-470 <br />project and expressing support for the loan and <br />budget request. Szymanski also pointed out that <br />the moneys for the assessment would have to come <br />from the City's contingency fund; which means that <br />the City will have too tighten its' belt for the <br />remainder of the year in order to come through the <br />year in as good a shape as last year. Fauson then <br />expressed his agreement with Szymanski, stating <br />that the contingency fund was meant for unforeseen <br />expenses like this. <br />Mohr moved that Council approve the revised costs <br />for the City's alloc<ztion and the loan as <br />requested. Szymanski seconded. Unanimous. <br />Wurl thanked the Council on behalf of W-470 for <br />their consideration of the matter. <br />8 <br />