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Purchase of Land and the Construction , off Street Parking Facilities Issuance of revenue Bonds and Distribution of the Revenues
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Purchase of Land and the Construction , off Street Parking Facilities Issuance of revenue Bonds and Distribution of the Revenues
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1/16/2014 3:10:56 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
6/9/1969
Ord-Res Number
5089-69
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facilities and the on- street parking operations in reason- <br />able detail, covering the preceding calendar year, and a <br />statement of the amounts transferred and credited to the <br />Parking Sinking Fund, and the accounts thereof, and the <br />cash balances therein and in the Parking Fund and Replace- <br />ment and Improvement Fund as of the end of such calendar <br />year; also, including a statement of the number of parking <br />spaces in the facilities, the number of on- street parking <br />meters, and any changes in off- street and on- street parking <br />rates and charges, as of the end of such calendar year, which <br />annual statement shall be certified by the City Controller or <br />by the person charged with the duty of auditing the books and <br />records relating to the facilities. Annually in each year <br />after completion of Project 1969 until January 1, 1974, and <br />once every four (4) years thereafter, the City shall employ <br />nationally recognized parking consultants to review the opera- <br />tion of the City's off - street parking facilities and the opera- <br />tion and administration of the on- street parking meter system. <br />Said review shall include, but not be limited to, the adequa- <br />cy of rates and charges and enforcement for the effective con- <br />trol of traffic and to meet financial requirements and as to <br />the location and mode of operation of the foregoing. Said re- <br />view shall be embodied in a written report including the con- <br />sultants' comments and recommendations which shall be filed <br />and maintained in the office of the City Controller, and a <br />copy thereof shall be furnished to the original purchaser of <br />the bonds, and, upon written request, to any holder or holders <br />of outstanding bonds. The cost of such review and report shall <br />be considered a maintenance and operation expense. Copies of all <br />such statements and balance sheets and other reports relating to <br />- 26 - <br />
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