There is hereby created, in accordance with the provisions of Chapter
100, Sections 7-202 to 7-212a of the Connecticut General Statutes, as amended (the "Chapter"), an authority known as the "Norwalk Parking Authority." The Norwalk Parking Authority (the "Authority") shall have all the powers and perform all the duties that are by law granted to or imposed upon parking authorities under and by virtue of the provisions of the Chapter, as it shall be amended from time to time, subject to the provisions of this ordinance.
The members of the Authority shall serve without compensation
but may be reimbursed for necessary expenses.
The Authority shall continue to exist until abolished by subsequent
ordinance of the Common Council, which shall not be earlier than the
repayment of all obligations of the Authority, including without limitation,
the retirement of all outstanding indebtedness of the Authority, or
the assumption of such obligations by the City.
This chapter shall take effect upon its adoption by the Common
Council.