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BillENACTED

Bill 050745

Amending Chapter 19-200 of The Philadelphia Code, entitled "City Funds - Deposits, Investments, Disbursements," by requiring any City Depository authorized to accept City deposits under Section 19-201 of The Philadelphia Code to annually certify compliance with Section 17-104 and to provide the City with a long term strategic plan to address disparities in its lending and investment activities.

Introduced Sep 15, 2005Committee on FinanceOfficial record: City of Philadelphia via Legistar

Introduced by

Councilmember GoodeCouncilmember Reynolds BrownCouncilmember BlackwellCouncilmember TascoCouncilmember Ramos

From the floor

Passages in the official transcripts that cite this file number. Every quote links to its exact place in the record.

  1. “Aye. The ayes are 16, the nays are zero. A majority of all members having voted in the affirmative, this bill passes. The next bill to be called for consideration is Bill No. 050745.”

    Council President Verna · Stated Meeting, December 1, 2005 · Dec 1, 2005 · official transcript, this passage

  2. “To the President and members of the Council of the City of Philadelphia, the Committee on Finance, to which was referred Bill No. 050615 entitled "An ordinance amending Section 17-104 of The Philadelphia Code, entitled 'Prerequisites to the execution of City contracts,' by requiring any City depository authorized to accept City deposits under Section 19-201 of The Philadelphia Code to annually certify compliance with…”

    Chief Clerk · Stated Meeting, November 17, 2005 · Nov 17, 2005 · official transcript, this passage

  3. “And Bill No. 050745, an ordinance amending Chapter 19-200 of The Philadelphia Code, entitled "City Funds, Investments and Disbursements," to provide the City with a long-term strategic plan to address disparities in its lending and investment activities.”

    Chief Clerk · Stated Meeting, November 17, 2005 · Nov 17, 2005 · official transcript, this passage

Status timeline

  1. Sep 15, 2005Referred · CITY COUNCIL
  2. Sep 15, 2005Introduced · CITY COUNCIL
  3. Nov 16, 2005HEARING NOTICES SENT · Committee on Finance
  4. Nov 16, 2005REPORTED FAVORABLY, RULE SUSPENSION REQUESTED · Committee on Finance
  5. Nov 16, 2005HEARING HELD · Committee on Finance
  6. Nov 17, 2005ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR · CITY COUNCIL
  7. Nov 17, 2005SUSPEND THE RULES OF THE COUNCIL · CITY COUNCIL
  8. Nov 17, 2005ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR · CITY COUNCIL
  9. Dec 1, 2005READ · CITY COUNCIL
  10. Dec 1, 2005PASSED · CITY COUNCIL
  11. Dec 15, 2005SIGNED · MAYOR

Official documents

Documents open on the City of Philadelphia’s legislative site.

Full text

Read the full text as published

..Title Amending Chapter 19-200 of The Philadelphia Code, entitled "City Funds - Deposits, Investments, Disbursements," by requiring any City Depository authorized to accept City deposits under Section 19-201 of The Philadelphia Code to annually certify compliance with Section 17-104 and to provide the City with a long term strategic plan to address disparities in its lending and investment activities. ..Body THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS: SECTION 1. Chapter 19-200 of The Philadelphia Code is hereby amended to read as follows: CHAPTER 19-200. CITY FUNDS-DEPOSITS, INVESTMENTS, DISBURSEMENTS §19-201. City Depositories. * * * (2) Each depository shall: (f) provide the City with an annual statement of community reinvestment goals including the number of small business loans, home mortgages, home improvement loans, and community development investments to be made within low and moderate-income neighborhoods in the City of Philadelphia. Each depository shall also certify compliance with Section 17-104 of the Philadelphia Code and provide the City with a long term strategic plan to address disparities in its lending and investment activities. On July 1 of each year, the City Treasurer shall certify to the President of City Council whether or not each bank and institution on the list of potential City depositories set forth in this section has complied with the each requirement of this subsection in the preceding fiscal year and shall withdraw all City funds from any bank or institution that has not complied with the each requirement. No funds shall thereafter be deposited in such bank or institution until the bank or institution comes into compliance with the each requirement and the City Treasurer has so certified to the President of City Council. The City Treasurer shall provide the President of City Council notification of the withdrawal of, and redeposit of, any City funds pursuant to this subsection. * * * _______________ Explanation: Strikethrough indicates matter deleted. Italics indicate new matter added. ..End