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Ordinance amending and supplementing the Pittsburgh Code, Title Five - Traffic, Article VII - Parking, Chapter 543 - Parking Meters, Section 543.01 - Parking Meter Zones and Rates, so as to set conform metered parking zones, rates and hours of enforcement throughout the City of Pittsburgh. to those set forth in the sales agreement between the City of Pittsburgh and the Pittsburgh Parking Authority. (Parking Assets)
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WHEREAS, the Council of the City of Pittsburgh has adopted a Resolution authorizing and directing the Mayor of the City to enter into a sales agreement with the Pittsburgh Parking Authority ("Authority") for the sale of Mellon Square Garage, five street lots and all of the street meters known collectively as the City Parking Facilities ; and
WHEREAS, the City of Pittsburgh (the “City”) owns certain parking assets known as Mellon Square Garage, the five street lots, and the Parking Meter Network, which are known collectively as the City Parking Facilities; and,
WHEREAS, pursuant to the Pennsylvania Motor Vehicle Code, 75 Pa.C.S. §6109(h)(1), Section 4404(d)(21) of the Parking Authority Law, 53 Pa. C.S. §5505(d)(21) and various agreements between the City and the Pittsburgh Parking Authority (“Authority”), the Authority manages the City Parking Facilities, including the enforcement and administration of the ordinances and regulations adopted by the City with respect thereto; and,
WHEREAS, the City of Pittsburgh must comply with Pennsylvania Act 44 of 2009 to create a revenue stream that will provide a minimum of 50% funding of the Comprehensive Municipal Trust Fund of Pittsburgh by January 1, 2011, or in the alternative, the City's pension fund would be taken over by Pennsylvania Municipal Retirement System (PMRS);
WHEREAS, Pennsylvania Employee Retirement Commission (PERC) has made a determination that it would accept a present value of irrevocably pledged future revenue streams derived from parking fees levied on pub...
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