Deal would shore up Lexington police, fire pensions

I'm not sure I understand what you are trying to convey. Does it have something to do with the word "contract"? Or perhaps you are afflicted with OCD? Oh, wait...I bet I know! You are one of the morons who thinks one $750 back pay check would make up for several years of no raise and getting screwed on our health insurance. Go back to your cave. I say wait as Long as it takes to get a good contract.

Contract or no contract, it's still going to be a lower paying job than it was in the past. They have 2 bridges, a basketball arena, and lots of water main replacements to pay for in the middle of a 10 year recession.

http://www.wave3.com/story/16530240/moodys-puts-louisville-arena-authority-on-bond-rating-watchlist

Your future raise is going to the Yum Center instead

http://blogs.reuters.com/muniland/2012/07/10/what-goldmans-muniland-charm-offensive-doesnt-tell-you/

Goldman must have understood how flimsy this deal was when it was initially structured. The original Moody’s and Standard & Poor’s ratings were Baa3 and BBB-, respectively, the lowest possible ratings a deal can receive to still be considered investment grade. It’s not a big surprise that after three years the deal is junk.

Even if you factor in the recession, the revenue miss on the tax increment financing is enormous. The cash-flow forecasts, found in the bond deal’s official statement (page 26 of the Leib Advisors report in the appendices), assumed an annual increase in TIF revenues of 5 percent. It would seem the underwriter, Goldman Sachs, should have pushed back a little more on that assumption as being overly optimistic. But since the city of Louisville was there to backstop the payments, Goldman had less to worry about. If the majority of municipal bond deals were financed this poorly, muniland would be in real trouble.