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Amending Chapter 19-200 of The Philadelphia Code, entitled City Funds - Deposits, Investments, Disbursements, by revising the list of City depositories because of non-compliance with certain provisions of that Chapter, under certain terms and conditions.
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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.
(1) Pursuant to the provisions of Section 6-300 of the Charter, the City Treasurer is authorized to deposit City funds in the following banks or institutions:
(a) Wachovia Bank;
(b) PNC Bank, N.A.;
(c) United Bank of Philadelphia;
(d) TD Bank, National Association;
(e) Citizens Bank;
(f) Bank of America;
(g) Republic First Bank;
[(h) City National Bank (New Jersey);]
[(i)] (h) Citibank, N.A.
[(j)] (i) M&T Bank.
* * *
SECTION 2. This Ordinance shall take effect immediately.
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Explanation:
[Brackets] indicate matter deleted.
Italics indicate new matter added.
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