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Aldermen read ordinance to cap park-board transfers at up to 20%
Summary
Aldermen read Bill 24-4 (Ordinance 1091) to raise the monthly cap on transfers to the park-board operating fund from 10% to a not-to-exceed 20%; the ordinance received a suspended-rule reading for immediate second reading.
The board heard a second reading of Bill 24-4 (Ordinance 1091), which would amend municipal code section 13-155 to increase the monthly cap on transfers from the Capital Improvements fund to the park-board operating fund from 10% to a not-to-exceed 20%.
The reading was presented during the meeting and the board moved to suspend the rules to allow the second reading to occur immediately; the ordinance text notes the change is a cap — the board could transfer less than 20% in any month as needed.
No roll-call vote to adopt the ordinance appears in the transcript; the item was read and discussed and will return for formal action as required by statute and local rules.
