Lexington Mayor Jim Gray says the biggest financial problem facing the city has been solved with the passage of a bill that reforms the city's police and fire pension fund.
The just-passed bill include lower cost-of-living adjustments and increased contributions from employees.
A majority of firefighters and police, both active duty and retired, supported the plan.
Gray said it also cuts debt in half and encourages jobs and economic prosperity and goes on to say "it's really a great day for Lexington."
The legislation now goes to Governor Beshear for his signature.