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BillENACTED

Bill 030022

Amending Chapter 19-200 of The Philadelphia Code, entitled "City Funds - Deposits, Investments, Disbursements," by prohibiting the City Treasurer from depositing funds in banks and institutions that have failed to submit statements of community reinvestment goals for low and moderate income neighborhoods in the City of Philadelphia, under certain terms and conditions.

Introduced Jan 28, 2003Committee on FinanceOfficial record: City of Philadelphia via Legistar

Introduced by

Councilmember Goode

From the floor

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

  1. “…es are 15, the nays are 1. The bill passes 15 to 1. The next bill to be called for consideration is Bill No. 030022. THE”

    Council President Verna · Stated Meeting, April 3, 2003 · Apr 3, 2003 · official transcript, this passage

  2. “…n approving funding for certain development projects must include an economic impact statement; And Bill No. 030022, entitled an ordinance amending Chapter 19-200 of the Philadelphia Code entitled "City Funds, Deposits Investments, Disbursements," by prohibiting the City Treasurer from depositing funds in banks and institutions that have failed to submit statements of community re-investment goals for low and City of…”

    Chief Clerk · Stated Meeting, March 27, 2003 · Mar 27, 2003 · official transcript, this passage

  3. “And Bill No. 030022, an ordinance amending Chapter 19-200 of the Philadelphia Code entitled "City Funds, Deposits Investments, Disbursements," by prohibiting the City Treasurer from depositing funds in banks and failed to submit statements of community re-investment goals for low and moderate-income neighborhoods in the City of Philadelphia.”

    Chief Clerk · Stated Meeting, March 27, 2003 · Mar 27, 2003 · official transcript, this passage

Status timeline

  1. Jan 28, 2003
    Referred · CITY COUNCIL
  2. Jan 28, 2003
    Introduced · CITY COUNCIL

    Recorded result: Pass

    A motion was made by Councilmember Goode that this matter be Introduced. The motion carried unanimously.

  3. Mar 26, 2003
    HEARING NOTICES SENT · Committee on Finance
  4. Mar 26, 2003
    REPORTED FAVORABLY, RULE SUSPENSION REQUESTED · Committee on Finance
  5. Mar 26, 2003
    HEARING HELD · Committee on Finance
  6. Mar 27, 2003
    ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR · CITY COUNCIL
  7. Mar 27, 2003
    SUSPEND THE RULES OF THE COUNCIL · CITY COUNCIL

    Recorded result: Pass

    A motion was made by Councilmember Blackwell that this matter be SUSPEND THE RULES OF THE COUNCIL. The motion carried unanimously.

  8. Mar 27, 2003
    ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR · CITY COUNCIL
  9. Apr 3, 2003
    READ · CITY COUNCIL
  10. Apr 3, 2003
    PASSED · CITY COUNCIL

    Recorded result: Pass

    A motion was made that this matter be PASSED. The motion carried by the following vote:

  11. Apr 24, 2003
    SIGNED · 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 prohibiting the City Treasurer from depositing funds in banks and institutions that have failed to submit statements of community reinvestment goals for low and moderate income neighborhoods in the City of Philadelphia, 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. * * * (2) Each depository shall: (f) provide the City with an annual statement of community reinvestment goals with regard to providing including the number of small business loans, home mortgage mortgages and , home improvement loans as well as other , and community development investments to be made within low and moderate-income neighborhoods in the City of Philadelphia. 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 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 requirement. No funds shall thereafter be deposited in such bank or institution until the bank or institution comes into compliance with the 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