Hot Ticket: Ald. Banks' Retirement Party

By Marcus Gilmer in News on Aug 10, 2009 5:00PM

While he's yet to officially announce his retirement, it seems Ald. William J.P. Banks (36th) is preparing to step down and his apparent successor is throwing him a party but it costs $200-a-ticket. According to the Tribune:

"We're going to buy him a gift," said John Rice, Banks' driver and would-be successor. "Thirty-two years of service to the city and to the community -- I think he deserves a retirement party. That's why I decided to throw it."

Banks has given a farewell speech to the council and has asked Mayor Daley to name Rice as his successor. After the farewell speech, Daley said of Banks he was, "very ethical, by protecting the integrity of [the council] at all times." Of course, ethics rules prevent certain gifts as the Trib also explains, though there's a way for Banks to get around that:

The city's ethics ordinance prohibits gifts of $50 or more from anyone "with an economic interest in a specific business transaction" that an official has power over, said Steve Berlin, executive director of the Chicago Ethics Board. That would not apply if Banks has resigned before the party, Berlin said.

Whatever gift Rice plans on getting Banks, at $200 a ticket, we hope it's gold-plated.