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Mayor Fausan opened the public hearing. <br />Wanush explained that McCaslin Blvd. has been <br />relocated to the east through the Homart Develop- <br />ment and the old 80th Street right-of-way is no <br />longer needed. Planning Commission reviewed this <br />at their meeting on June 24, 1986, and recommended <br />that 80th Street be vacated. <br />Mayor Fausan asked for public comments in favor of <br />or in opposition to Ordinance #904. None. <br />Mayor Fausan closed the public hearing and asked <br />for a motian. Szymanski moved that Ordinance #904 <br />be adopted. Scarpella seconded. By Roll Call <br />Vote, Ordinance #904 was adopted 4 yeses, 0 nos <br />and Andersan abstaining. <br />ORDINANCE #911 - PURCHASE OF AUSTIN PROPERTY - <br />FIRST READING Rautenstrau~s read by title only Ordinance 911, "An <br />Ordinance authorizing that certain lease and <br />agreement between JINGO Leasing Corp., a Colorado <br />Corporation, as Lessor, and the City of <br />Louisville, Colorado., as Lessee, in the aggregate <br />principal aamount of $154,525.00 and in connection <br />with that certain real property located in the <br />City of Louisville; providing for annual lease <br />payments; and prescribing other details in <br />connection therewith." <br />Hundley explained that at the last Council <br />Meeting, Council authorized the submittal of a <br />purchase contract for the Roy Austin property. <br />This contract was accepted by the attorneys for <br />the Austin lEstate and calls for a purchase price <br />of $147,500. In order to finance this purchase, <br />Hundley requested proposals for a lease/purchase <br />agreement from four financial institutions. JINGO <br />Financial Carporation's proposal contained the <br />lowest interest rate, issuance costs and contained <br />no purchase option premium. Hundley instructed <br />JINGO to prepare all legal documents for a <br />lease/purchase agreement and recommended Counci:~~ <br />approve Ordinance #911 on First Reading and set a <br />public hearing for August 19, 1986. <br />Mayor Fausan moved that Ordinance #911 be put out <br />for publication and a public hearing be set for <br />August 19, 1986. Szymanski seconded. Unanimous. <br />ORDINANCE #912 - ABANDONED VEHICLES <br />FIRST READING Rautenstraus read by title only Ordinance #912, <br />"An Ordinance amending Section 10.04.020 of the <br />Louisville Municipal Code adding Sections 22-20 <br />and 22-21 of the Model Traffic Code for Colorado <br />