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City Managers Report – May 6, 2011

There are two options available to transition this city to Metro – liquidation of assets through a board of trustees, or transfer of property, assets, and liabilities to Metro. It is the opinion of the Lakewood Board of Commissioners that transferring assets and liabilities to Metro is a better option for this community than liquidating assets with trustees.

City Attorney Louis Oliver and I negotiated an inter-local agreement with Metro that transfers all property, assets, and liabilities to Metro. This agreement was approved unanimously by Lakewood and will go before the Metro Council May 17th, 2011.

Folks, this isn’t easy because no one has ever done it before. No city has ever been dissolved into a Metro Government. Our goal, both Lakewood’s and Metro’s, is to transition in a way that is in the best interest of the public. This agreement does that.