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. �,. <br /> . � <br /> DsvidroA awk�d fot Cour�c�l oo��n�a � <br /> Itayars tts�. �ri.qqs, i! w� initiat�Q <br /> prcc��dinq� taniqht, hQw aa�i.tt�d <br /> Mould th• City b� to th� proc�s�? <br /> Sriqq�t Th� coasit��n� �ha� � n��d i� a <br /> policy dir�ctian lras th� Council to <br /> �uxsu� th� additior�al l�val• ot <br /> •�cuzity n����aary to obt�in band <br /> inauranca •• w� discuas�d. �, <br /> lrankly, crnnot quaranCa� �hrt I can <br /> obtain bond insur�nc• on th� basis <br /> o! thos� sdditionsl i�v�],s ot <br /> •�curity. I vou1Q suqq�at �:ourcil <br /> autriari�� �� Co o!!�r thos• <br /> •ddition+�l l�vsls o! s�curfty to on� <br /> or �eora bon� in�ur�r� �o d�L�rmin� <br /> wh�th�c riond in�uranc• ia ava�l�bl� <br /> at a rq�sanabi� pric�, that wauld <br /> accotapli�A �h� rftundinq within th� <br /> t�n�ncial �,aram�t�rs that w� <br /> dis�uss�d. At th�t paint, com� back <br /> anQ s�+k � f i r�r co�itm�nt, on th• <br /> part ot �h� City, to procaad with <br /> th� tran�netion. That'• a�onq wa►y <br /> o! cay�,nq that th�r� i• no <br /> comiaitm�at to dc anythinq. <br /> l�ay�r �ov�d that Cokncil QirscL Mr. Hriqq�, o! K�mp�r S�curiCi4s <br /> Grovp, to �xplor• th� po��ibility or th� rstundinq to s�� i! th• <br /> City co�ld oht•in tripl� ��I►M ir.�r�ra►nci �or th• ratundinq ot th� <br /> bo�ulr, s�cond�d by Sisk. <br /> ar�nd �xpl�i.ned that th� advantaq�� of this ar� th*t it wcta�d <br /> ahor��n th� bonQ issu� by an� y�ar and aavr th� City ov�r <br /> 5�04,000.�0 in int�r��t, a�ubstaritial advantaq�, <br /> Rcil cal� was ��kan. Motion pa��ssd by � S-1 vot• With Davld�on <br /> votinq �qainst. <br /> DEBZGNATIQifi O� ECONOMIC DEVEI�OPMENT 11GEHT T4 RLGEIVE FUNDS FROI[ <br /> L:41l3IiTY <br /> liovard co��nt�d that CQUncll n�sd• mov on with th� proqram, to <br /> daaiqnot� th� City o! Loui�v�ll• as th• Ecanomic D�v�lopawnt Aq�ncy <br /> to Ch• eo,�nty ancl •�t asid� th� SS2,000.00 to b• �arma►xksd tor <br /> Ct�umb�r �ctiviti�s contir�q�nt upon th• Chamb�r q�vinq r�qu�at� ior <br /> lund:nq in �tutt��ient d�tail to r�lea�z• th� fund on a pro��ct by <br /> p�n��ct bN�is. TA� Econamic D�v�lopm�nt Gc�a+itt��'s qosl b�inq �o <br /> advis� �ta!! to l�ok into wh�n th� �ity �s at 8uild-out. �rh�t kind <br /> a� x�v�nu• incr�oa��s do w• hav� xo haw �o th� City can �urviv�? <br /> � <br />