The Louisville Water Company is ready to loan Metro Government $10 million to settle a lingering legal battle with more than 120 retired firefighters.
The Metro Council is expected to approve an emergency measure Thursday night.
A judge has ordered the city to pay the firefighters $14.3 million in back overtime pay. With $10 million coming from the water company, the rest will be pulled out of the city's rainy day fund.
Steve Rowland, CFO of Metro Louisville, says, "We consider this a loan to ourselves and the water company was very cooperative."
When firefighters get their money, it will end more than a decade-long court battle. City firefighters have argued that their pay was miscalculated for at least fifteen years.