the chicago parking meter situation: a clean clean mayoral bottom asits

Initially, much of the proceeds from the meter deal were targeted to benefit Chicago over the long term - in capital infrastructure projects, rainy day funds and so forth. Shortly after the deal was signed, however, Daley found himself with an unexpected $400 million shortfall, and - not wanting to raise taxes or cut services in a recession - filled the budget hole with parking meter money. Whenever the capitalization of an asset occurs, citizens should be wary if city hall devotes proceeds to filling operating deficits. After all, the structural deficits do not vanish, but the ability to monetize the asset again does.

http://www.governing.com/columns/mgmt-insights/Chicago-Parking-Meters.html