City of Philadelphia - File #: 130011

• File #: 130011
• Version: 0
• Type: Bill
• Status: ENACTED
• File created: 1/24/2013
• In control: Committee on Finance
• Final action: 3/14/2013
• Title: Amending Chapter 19-200 of The Philadelphia Code, entitled "City Funds - Deposits, Investments, Disbursements," by requiring that contracts with proposed recipients of City Payroll Deposits, as well as any renewals of such contracts, include an annual statement of community reinvestment goals in addition to existing requirements; and by requiring that the recipients of such deposits provide quarterly updates on their fair lending plans and annual statements of community reinvestment goals; all under certain terms and conditions.
• Sponsors: Councilmember Goode
• Indexes: CITY DEPOSITORIES
• Code sections: 19-200 - City Funds-Deposits, Investments, Disbursements

Date	Ver.	Action By	Action	Result	Tally
4/2/2013	0	MAYOR	SIGNED
3/14/2013	0	CITY COUNCIL	READ AND PASSED	Pass	17:0
3/7/2013	0	Committee on Finance	HEARING NOTICES SENT
3/7/2013	0	Committee on Finance	HEARING HELD
3/7/2013	0	Committee on Finance	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
3/7/2013	0	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
3/7/2013	0	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL	Pass
3/7/2013	0	CITY COUNCIL	ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR
1/24/2013	0	CITY COUNCIL	Introduced and Referred	Pass

Title
Amending Chapter 19-200 of The Philadelphia Code, entitled "City Funds - Deposits, Investments, Disbursements," by requiring that contracts with proposed recipients of City Payroll Deposits, as well as any renewals of such contracts, include an annual statement of community reinvestment goals in addition to existing requirements; and by requiring that the recipients of such deposits provide quarterly updates on their fair lending plans and annual statements of community reinvestment goals; all under certain terms and conditions.

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.

* * *

(8) City Payroll Depositories.

(a) For purposes of this subsection (8), "City Payroll Deposits" shall mean funds used to cover payroll expenses for employees paid out of the City Treasury.

(b) At least once every four years, the City Treasurer shall implement an RFP/RFQ process seeking applications from banks or other qualified institutions that wish to receive City Payroll Deposits. Such RFP/RFQ shall incorporate all the provisions of this Section 19-201 relating to the minimum qualifications of City depositories. In accordance with the terms of the RFP/RFQ, the City Treasurer shall tentatively select one or more institutions to receive City Payroll Deposits, and shall enter into negotiations with such institution or institutions to reach agreement on a proposed contract for such services, in terms approved by the Law Department, provided that all conditions set forth in this Section 19-201 for City depositories shall be incorporated in such contract.

(c) No contract with a proposed recipient of City Payroll Deposits may be executed until it has been approved by Council by ordinance. No such contract shall be approved by Council unless:

(i)...