Chicago City Council member Brendan Reilly said this week he has consulted with public finance experts in an exploration of how the city could finance a buy back of the parking meter system from private operators.

The aldermen said in a televised interview that the city could possibly issue tax-exempt debt repaid with meter revenues.  The cost to purchase back the 36,000 slot system could easily run more than $2 billion. The private operators paid $1.15 billion for the 75-year lease in 2009.

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