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r <br /> dondi � Co.� Qav� a pr�s�ntation r�qardinq th�ir <br /> tind�nqs ot tb* 1��• lludit. <br /> 1i�. ltiqqirl� d�ta�l� tt�� lludit st.atinq #.b� City <br /> did b�tt,.r than i! antiaipat�Q in tri� ar�r►s o! <br /> inor�aa�4 r�v�nuN and ax��Sitvt� <br /> " - virrrall. I� ao�itlon, ar �udilors, sor�di i Ca is <br /> z to conf��cu �d hav� v�rili�d tt»t� tl�i <br /> City•• ca�A vitA �h� outaid� parti� i• inwr�4 or <br /> coll�t�raii�d� tl�rr�lo=�, t� �vnaY is not �t <br /> ri�k. <br /> 1rs. Hiqqin+� s�sponAb to �ck�tt's qu�stion is to <br /> th� Csty'a actwl drbt by st*tinq tba! th� city�� <br /> total d�t SnoZudinq th� qoit �oursi arr4 tt� sw�r <br /> d�bt/11aDility i� ;9� ■illian ar�A that alt.bouqh <br /> tt� City'• liability haa inar�as�1 av�r laat ywr, <br /> ana �s�ta h�va qrsatlY incria��Q qfvxnq tA� CitY <br /> a hfqhrr luna bal�naa. ��ck�tt ask�d i! !?wt <br /> oaula b� int�r�r�t� as th� Cikx b�inq iYf batta�r <br /> condition tAi� y�►s av�r last y�r. �. Uiqqin� <br /> st.1��d that 1[s'. ��CkiCt�� •s��7MAt 1�a,� Co�CS�Ot. <br /> ��Mli �• �� ��� M��r� sh� would plao� e.rii� <br /> Goyncii in t�ra� o! thiir oowaita�nt to <br /> corisarv�tiv� lisawl aaruq�rt! av�t tt� Ia�t thrN <br /> y�arr. ]�. Hiqqir�a it�trd tha� tb� Proqr�as tt�t <br /> has b�n �ad� avtt ttN la�t thrw ysar� i� <br /> "pt�ar�ar�al� a� �n sh� lir�! look�d at th� <br /> City�s lina,ncial �tst�s�nts tt�r� y�ar� aqo � <br /> ras soow33at aAd noM fMl• vi�cy pO�itiV� <br /> abaut Councfl � s dir�ction �ry i} �r�cr�rir�q t,h� <br /> City�• Gir�ral �und �alar�c� by •lsos! �wo-loldl 2) <br /> x�ducir�g �b� City's lonq-tar� d�bt � ]) t.� <br /> �atabiis}�rant o! • dibt-s�rvic� fund/ a�r�d 4y tt� <br /> Citt�• approval ot a saiw t� inarMS�. <br /> lta. �iqqins staL�d t2�at th� structurinq a! t!� <br /> qol! ca�rs� d�bY va• v�ry poaitiv� �w t!� Cit can <br /> waUc �r�ray tra� #.hat d�b�t. Tbir� i� r�o liabil�t� <br /> !o t.br► ru�d�ts af Louisvili� it !or �asM r�so� <br /> L2� Ci�y vo^:� to qst int,� firjarrciai troub�.�, tha <br /> � ol! cours� r�ould �ot b� s liability. I� l.�r� o! <br /> i�bility o! th� Ciey�� rwir�inq d�bt, Ms. <br /> qqfn� stat�d ttut a• long u th�s• i� � ta <br /> tvr�d t�a d�bt, no o� shaul� b� conoarn�d as t!� <br /> _ au�ditots ar�a't co�rn�d -- sonry hu bw� <br /> b�dqrtad ar�d tri� d�b� has b�n pla�d lor. <br /> l(ay0! 1��ioe� 11�3�D� D1riOt4x /b�roel <br /> �ati-Car#x�ci tor h�r oa�lts�nt ana aDi,IitY to <br /> pravid� t.b� Cauneil vith as� �acaall�nt llr�a�oial <br /> �tat+�wnt vith xyq�ara to th� iq�• au4i�. <br /> 4 <br />