City Council Agenda and Packet 1985 08 06

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oat f o& 0•• • -- wetik • sitiloulk 404 ‘_all . foir OA - : .,.... :-. . , . ;t,- . apt" _ ith Couoct • • •• . ` ` : fir,, "w «•, .,• POWS= 11001111 :4;,Y, to .tt -, spoof cult , atenzasiVaiii .•seramatto 1: * "A,, • ftlat • .. . 1.•%CM.. 1°4°41 si�� + y= strong volition' ta� w ibarinq Outs, Logos ttom of a lair Lab0F standards Act to local governments/ and Abe bon which additional restrictions on have the effect of eliminating thin bond tax exempt status. The City of Louisville would lose *300,000 if Revenue Sharing is cut from the Federal Budget. This is the City's only major source of sevenaS from the Federal govarnnent. This money is currently used in the City's General fund. Services may have to be cut to make up for this cut or sake up the money locally, according to sundloy. Sandler explained that with strict application of the standards set by the Pair Labor Standard Act the City could sustain a budget consequence if compliance is imposed on local governments. Ristorically, local governments have not been consistent with private industry. Sons prerogative needs to be maintained locally to remain fl.Yible. The State and local taxes have been deductible on Federal Income Taxes since 1,13. This proposed cut and would eliminate this deduction. municipal loads would run the risk of no longer being tax exempt and would cause an increase is user fees to cover the higher interest costs for . .Opias r Council authorised staff to prepare City position statements and to contact the Congressional Delegation opposing this Federal gadget Cats. COMM* 1142CS Mint Iundlsy awned that this item be pulled from this • agendeemd pzsmsnted at a liter date. il! Da2S FOR COUNCIL NOW /I$AtCN h Cooaoil Mork $assior' was set for Ju1 35th. . 7 . ` ti ti , . , • •f.