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the Centennial Shopping Center. The parade begins <br />at 1:00 p.m. at Heritage Park and travels west on <br />Cherry Street 6/lOt:h of a mile to the Centennial <br />Center. The parades is expected to last one hour <br />during which time Cherry Street must be closed. <br />Both the Police Dept. and the Public Works Dept. <br />have been involved .in the planning for this event. <br />The event's organizers will pay for police <br />overtime and Public Works costs. Council is being <br />asked to approve tYie temporary closing of Cherry <br />Street. <br />Mayor Fauson moved and Anderson seconded to <br />approve the temporary closing of Cherry Street <br />with the condition that the organizers pay for <br />police overtime and Public Works costs. <br />Unanimous. <br />RESOLUTION #18 - W-470 RECONSTITUTION AGREEMENT - <br />PUBLIC HEARING Williamson read in :its entirety Resolution #18, "A <br />Resolution authorizing the City of Louisville, <br />Colorado to enter into the W-470 Highway Authority <br />Agreement; and ratifying action heretofore taken <br />in connection therewith." Proper publication and <br />notice of public hearing were established. <br />Mayor Fauson opened the public hearing. <br />Leon Wurl, Director- of W-470 Authority, detailed <br />the Reconstitution Agreement in accordance with <br />Colorado State Law, Senate Bill 270 regarding the <br />making of public highway authorities. Wurl stated <br />that he would answE~r questions of Council or the <br />public at the appropriate times. <br />Approximately nine people spoke against adoption <br />of Resolution #]_8. The financing of the <br />construction of W-470, specifically the type of <br />taxes that could be imposed, was a common concern <br />among those people speaking against the issue. <br />Other concerns re]Lated to 1) the need for the <br />highway, 2) whether new jobs would be created by <br />virtue of having the highway, 3) would W-470 <br />reduce traffic on U.S. 36, 4) location of proposed <br />route, and 5) actual cost of building the highway. <br />One opponent staged that the most important <br />question that needs to be answered is what is the <br />present value of this investment to Louisville. <br />Williamson asked to make a clarification on what <br />the Council is being asked to consider in adopting <br />Resolution #18. The Reconstitution Agreement only <br />speaks to the organization of the W-470 Authority. <br />This sets up their Board, voting powers, and how <br />it proceeds. "For the Authority to move forward <br />2 <br />