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Mayor Pauson opened the public hearing. <br /> Wanush explained that McCaslin Blvd. has been <br /> relocated to the east through the Bogart Develop- <br /> ment and the old 80th Street right-of-way is no <br /> longer needed. Planning Commission reviewed this <br /> at their nesting on June 24, 1986, and recommended <br /> that 80th Street be vacated. <br /> Mayor Pauson asked for public comments in favor of <br /> or in opposition to Ordinance 0904. None. <br /> Mayor Pauson closed the public hearing and asked <br /> for a motion. Szymanski moved that Ordinance 0904 <br /> be adopted. Scarpella seconded. By Roll Call <br /> Vote, Ordinance 0904 was adopted 4 yeses, 0 nos <br /> and Anderson abstaining. <br /> ORDINANCE 6911 - PURCHASE OF AUSTIN PROPERTY - <br /> PIRST READING Rautenatraus read by title only Ordinance 911, "An <br /> Ordinance authorizing that certain lease and <br /> agreement between JI$CO Leasing Corp., • Colorado <br /> Corporation, as Lessor, and the City of <br /> Louisville, Colorado, as Lessee, in the aggregate <br /> principal amount of $154,525.00 and in connection <br /> with that certain real property located in the <br /> City of Louisville; providing for annual base <br /> payments; and prescribing other details in <br /> connection therewith." <br /> Hundley explained that at the last Council <br /> Meeting, Council authorised the submittal of a <br /> purchase contract for the Roy Austin property. <br /> This contract was accepted by the attorneys for <br /> the Austin Estate and calls for a purchase price <br /> of $147,500. In order to finance this purchase, <br /> eundloy requested proposals fora lease/purchase <br /> agreement from four financial institutions. JIMCO <br /> 'Financial Corporation's proposal contained the <br /> lowest interest rate, issuance costs and contained <br /> no purchase option premium. Eundley instructed <br /> JI$CO to prepare all legal documents for a <br /> lease/purchase agreement and recommended Council <br /> approve Ordinance 0911 on First Reading and set a <br /> public hearing for August 19, 1986. <br /> Mayor Pauson 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 0912 - ABANDONED 'VEHICLES - <br /> FIRST READING Rautenstraus read by title only Ordinance 8912, <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 /> 3 <br />