CHICAGO - The Chicago City Council yesterday approved an ordinance imposing a 15-day review period before voting on future asset-lease transactions in reaction to widespread criticism over the management of the city's parking meters by the private consortium that paid $1.15 billion to lease the system for 75 years.

Frustration over what even Mayor Richard Daley has acknowledged was a poorly handled turnover of the system to the private operators spurred the action. The winning bid on the lease was announced in early December and Daley sought shotgun approval of it just a few days later.

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