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 notify the City of proposed branch closings.
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.
ยง19-201. City Depositories.
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(2) Each depository shall:
(g) provide the City with notice, if the depository proposes to close any branch, no later than 90 days prior to the date of the proposed branch closing. The notice to the City shall be sent to each member of City Council, the City Treasurer, the Commerce Director, and the Mayor's Office of Consumer Affairs. The contents of notice to the City shall include:
(.1) identification and/or address of the branch to be closed;
(.2) the proposed date of the closing;
(.3) a detailed statement of the reasons for the decision to close the branch; and
(.4) statistical or other information in support of such reasons.
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Explanation:
Italics indicate new matter added.
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