SALISBURY -- A Business Disclosure Ordinance is being advanced by the Salisbury City Council this week with supporters calling it a clear-cut transparency law while opponents argue that there is no need or public demand for the measure.
The ordinance would require any vendors who contract with Salisbury for more than $3,000 in a single agreement or $10,000 for the fiscal year to fully reveal all partners or owners with more than a 5 percent stake in the company. It would mean that all parties in a LLC or all officers in a corporation would also have to be known before contracting with the city.
“I’d like to see it apply to our vendors as it does in other places,” said Council President Terry Cohen. “It’s only a two-page form and we’re not asking them to disclose their finances, we’re asking them to disclose their beneficial ownership.”
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7 comments:
And that is reasonable thing to do Shannie and Mitchell.
This is transparency at its finest. Look for opposition from the usual suspects.
This is long over due. If you don't have anything to hide, you shouldn't have a problem. The taxpayers deserve to know who is benefiting from their tax money.
Not very business friendly.
Anonymous said...
Not very business friendly.
March 8, 2013 at 11:09 AM
Are you saying hiding behind an LLC is more business friendly?
Dont stop there,why dont the council also try to use more local businesses for contracts also.More work goes to out of town contractors that stays here.
Thank you on behalf of all city taxpayers.
Very Taxpayers Friendly :) Bravo! Long overdue!
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