Aldermen move to slow down future asset sales :: CHICAGO SUN-TIMES :: City Hall: "Burned by the problem-plagued privatization of Chicago’s 36,000 parking meters, aldermen moved Monday to slow down and shine the light on future asset sales.
The City Council’s Finance Committee agreed to mandate at least 15 days of legislative review before the sale of any city assets valued at over $100 million.
A companion disclosure ordinance would require the city to post the lease on the internet prior to a Council vote to sell off another major asset and post quarterly reports detailing how funds generated by the sale are being spent."
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Fifteen days for over $100 million? Does that seem like legislative self-assertion?
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