CHICAGO – Chicago Mayor Rahm Emanuel has ordered an independent audit of the city's 75-year, $1.15 billion parking meter deal.

In a news release Monday, Emanuel saids he's ordering the audit to make sure that long-term contracts to manage the city's assets are being managed properly.

The audit will look at the agreement with Chicago Parking Meters LLC to make sure the company's revenue collections match the number of parking meters used around the city. The city said consultants will begin the audit in November.