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Howard moved that Council approve Resolution No. 11, Series 1999, Amendment of the <br />1999 Budget for 1998 Open Encumbrances, seconded by Keany. <br /> <br />Roll call was taken. Motion passed by a 6-0 vote. <br /> <br />RESOLUTION NO. 12, SERIES 1999 - DESIGNATING PART OF THE FUND <br />BALANCE OF THE CAPITAL PROJECTS FUND FOR THE FUTURE <br />DEVELOPMENT OF A COMMUNITY PARK, AND FUTURE DEPT <br />REDUCTION <br /> <br />Davidson called for staff presentation. <br /> <br />Dianne Ray, Finance Director, stated that this resolution is as a result of the 1998 budget <br />process. She explained that this is the fourth year in a row that Council has chosen to <br />designate $100,000 out of the fund balance in the capital projects fund to go toward a <br />community park and the third year in a row that Council has chose to designate $100,000 <br />to go toward the reduction of debt. This resolution designates the fund balance for those <br />purposes. <br /> <br />Davidson called for Council comments and questions. He explained that several years <br />ago, Council started designating $100,000 for a future regional park, versus going the <br />traditional way of bonding. When adequate funds accumulate, the City can purchase the <br />land and develop a regional park for the citizens of Louisville. The second $100,000 <br />designation began in 1997, whereby Council takes part of the City's projects fund and <br />designates it for early debt repayment. He estimated that by doing this, approximately <br />one-third of the City' s total debt has been paid off early. <br /> <br />Sisk moved that Council approve Resolution No. 12, Series 1999 - Designating Part of <br />the Fund Balance of the Capital Projects Fund for the Future Development of a <br />Community Park and Future Debt Reduction, seconded by Howard. <br /> <br />Roll call was taken. Motion passed by a 6-0 vote. <br /> <br />RESOLUTION NO. 6, 1999 - A RESOLUTION ADOPTING THE DOWNTOWN <br />LOUISVILLE FRAMEWORK PLAN AS AN AMENDMENT AND UPDATE TO <br />THE CITY'S COMPREHENSIVE PLAN, WHICH DOWNTOWN FRAMEWORK <br />PLAN APPLIES TO AN AREA GENERALLY DESCRIBED AS THE <br />DOWNTOWN AREAS ZONED C-C (COMMERCIAL COMMUNITY) AND C-B <br />(COMMERCIAL BUSINESS) AND SURROUNDING RESIDENTIAL <br />INFLUENCE AREAS, AS MORE PARTICULARLY DEPICTED ON <br /> EXHIBIT 'B' <br /> <br />Davidson called for staff presentation. <br /> <br />Paul Wood, Planning Director, stated that Council continued this Resolution on February <br />16, 1999, for the purpose of incorporating Council comments. Staff has incorporated the <br /> <br />5 <br /> <br /> <br />