ORDINANCE NO. __________, SERIES 2019
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AN ORDINANCE OF THE LEGISLATIVE COUNCIL OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT REQUIRING THE PARKING AUTHORITY OF RIVER CITY, INC. ("PARC") TO ISSUE A REQUEST FOR PROPOSAL FOR A CONSULTANT TO STUDY THE EXPANSION OF ON STREET PARKING METERS, SPECIFICALLY EVALUATING IMPLEMENTATION BY PRIVATIZATION, PUBLIC OPERATION AND PARTNERSHIP THEREOF; AND TO STUDY COMPLETE PRIVATIZATION OF CURRENT AND PROPOSED EXPANSION OF ON STREET PARKING METERS (AS AMENDED).
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SPONSORED BY: COUNCIL MEMBERS YATES AND PIAGENTINI
WHEREAS, the Louisville/Jefferson County Metro Government's authority over PARC is set forth in KRS ? 58.180(4); "Any governmental agency creating a corporation pursuant to this section to act for and on behalf of, and as the agency and instrumentality of, such governmental agency in the acquisition and financing of a public project or public projects shall, at all times either (i) exercise organizational control over such corporation by creating the corporation pursuant to this section, and retain authority at any and all times to alter or change the structure, organization, programs or activities of the corporation, including the power to terminate existence of the corporation, subject to any limitation on the impairment of contracts entered into by such corporation, or shall (ii) exercise supervisory control over such corporation as may be deemed proper by the governmental agency in the administration of the corporation's activities as a constituted authority of such governmental agency, and as may be required from time to time by federal law in order to qualify the corporation to issue bonds, notes, or other obligations on behalf of the governmental agency;" and
WHEREAS, LMCO ?32.501(G)(2) provides that "All funds expended by PARC, including but not limited to operating, capital and debt service costs, shall be consistent with the Corporation's annual operating and capital budgets, as amende...
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