(a) The following City Asset Lease Agreement documents and any future lease agreements worth more than $10,000,000 shall be made publicly available as electronic, searchable files on the City of Chicago's Department of Finance website:
1. The ordinances establishing the leasing of or long-term concession concerning the Chicago Skyway Toll Bridge System, the Chicago Downtown Public Parking System, the Chicago Metered Parking System.
2. Any introduced legislation pertaining to proposed City asset lease agreements, worth more than $10,000,000, including all attachments and any amendments thereof, prior to its referral to the appropriate Chicago City Council Committee.
3. Any future City asset lease agreements approved by the Chicago City Council and worth more than $10,000,000, including all attachments, and any amendments thereof.
4. A separate accounting document detailing the allocation of lease proceeds including, but not necessarily limited to, appropriations, investments, interest income earned, and distributions to future budget years. This document should also detail the payment of all fees and expenses related to the lease transaction. Additionally, the document should list the names and fees paid to all financial consultants, auditors and/or financial institutions hired by the city to invest and manage City asset lease proceed funds.
5. A quarterly update of the accounting document for each city asset lease agreement. The Chief Financial Officer/Comptroller shall submit such update to the Chairman of the Committee on Finance and/or post such update on the Department of Finance's website, and shall appear before that Committee to present the status of each agreement where appropriate or necessary.
(b) In addition to the requirements set forth in subsection (a) of this section, any future lease agreements worth $400,000,000 or more shall be subject to the requirements set out in Chapter 2-164 of this Code.
(Added Coun. J. 6-3-09, p. 63075, § 2; Amend Coun. J. 11-18-15, p. 14398, § 3)