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This record contains private information, which has been redacted from public viewing.
Record #: O2012-8301   
Type: Ordinance Status: Failed to Pass
Intro date: 12/12/2012 Current Controlling Legislative Body: Committee on Committees, Rules and Ethics
Final action: 5/20/2015
Title: Amendment of Municipal Code Section 2-8-035 regarding establishment of Office for Independent Budget Analysis
Sponsors: Pawar, Ameya, Smith, Michele, Dowell, Pat, Burns, William D., Cappleman, James, Moreno, Proco Joe, Fioretti, Bob, Arena, John, Sposato, Nicholas, Waguespack, Scott, Reilly, Brendan, Jackson, Sandi, Burnett, Jr., Walter, Hairston, Leslie A., Munoz, Ricardo, Zalewski, Michael R., Moore, Joseph, Osterman, Harry, Lane, Lona, Tunney, Thomas, Sawyer, Roderick T., Foulkes, Toni
Topic: MUNICIPAL CODE AMENDMENTS - Title 2 - City Government & Administration - Ch. 8 City Council & Wards of City, MUNICIPAL CODE AMENDMENTS - Title 2 - City Government & Administration - Ch. 32 Dept. of Finance
Attachments: 1. O2012-8301.pdf
Related files: R2015-407
Ordinance to establish Office of Independent Budget Analysis


WHEREAS, the City of Chicago has a budget of over $8 Billion;

WHEREAS, the City Council must perform its role as the legislative branch of government in Chicago by evaluating the annual City of Chicago budget, proposals for public-private partnerships, and by conducting oversight of the performance of public-private partnerships;

WHEREAS, the City Council does not have independent financial support available to it to provide analysis to the annual budget or other potential proposals that can dramatically impact Chicagoans;

WHEREAS, ideas for the future include public-private partnerships under the Chicago Infrastructure Trust, municipal marketing, TIF projects, and others;

WHEREAS, the City Council, and the taxpayers of the City of Chicago, would greatly benefit from independent and unbiased analyses of prospective proposals;

NOW THEREFORE,
BE IT ORDAINED BY THE CITY OF CHICAGO CITY COUNCIL OF:

SECTION 1. Chapter 2-8-035 of the Municipal Code of the City of Chicago is hereby amended by striking out certain language and adding new language underlined as follows:

2-8-035 Sale or lease of city assets—Ordinance requirements. Office for Independent Budget Analysis (OIBA") established.
Every ordinance that contains a provision for the sale or lease of any city asset, including revenue streams from that asset, whose anticipated revenue from the sale or lease of the asset is greater than $100,000,000.00 shall not be given final consideration by the city council until at least 15 days after its introduction into the city council or direct introduction into a city council committee or until the provisions.
No member of the city council or other municipal officer shall introduce, and no committee of the city council shall consider or recommend, any ordinance that is contrary in any way to the requirements of subsection (a). No member of the city council shall propose, and no committee of the city council sha...

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