Monday, December 8, 2008
City Councilman Ricky Burgess plans to introduce legislation Tuesday December 9Th that will mandate council to create a new 5 year Act 47 plan by March 25Th 2009. Rev. Burgess wants this action to be taken so council can get to work on what he feels is a critical issue as soon as possible. He is willing to work through the holidays if he must. Rev. Burgess wants to fund the city's pension requirements by funneling $10 million in expected gaming revenue away from the city's operating costs. He has not mentioned this to any members of council but feels they will understand the urgency of this matter after the city lost $124 million from its pension investments.
Posted by wduqnews at 8:00 AM