Water Company Loan Might Cover Firefighter Settlement

By Todd Mundt

Published February 4, 2011 at 12:05 PM EST

Louisville Metro Government will borrow ten million dollars from the Louisville Water Company to settle its lawsuit with firefighters.The city owes retired firefighters 14.2 million dollars because of years of miscalculated overtime. The other 4 million will come from the city’s reserve fund.The Courier-Journal reports the Board of Water Works will vote on the loan on Tuesday, and is expected to approve it. The council will vote on it later next week. Mayor Greg Fischer says the loan will save the city money because it won't involve an outside lender.The water company has about $64 million in the bank.

Can we count on your support?

Louisville Public Media depends on donations from members – generous people like you – for the majority of our funding. You can help make the next story possible with a donation of $10 or $20. We'll put your gift to work providing news and music for our diverse community.