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.
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)
Bank Hapoalim;
Bank Leumi;
Brown Brothers, Harriman & Company;]
[(d)]
First Union National Bank;
[(e)
Frankford Trust Company;
Mellon Bank;
JeffBanks, Inc.;
CoreStates Financial Corp.;]
[(i)]
PNC Bank, N.A.;
[(j)
Berean Federal Savings Bank;
Polonia Federal Savings and Loan;
Prudential Savings Bank;
Borinquen Federal Credit Union;
Sentry Federal Credit Union;
Weavers Way Federal Credit Union;
Other Neighborhood Based Credit Unions:
(.i) whose deposits are insured by the National Credit Union Administration; and,
(.ii) which are chartered to serve a particular neighborhood located within the City of Philadelphia, or to serve the members of an organization representing a particular neighborhood.
Chestnut Hill National Bank;
First Republic Bank;]
[(s)]
United Bank of Philadelphia;
[(t)
First Commercial Bank of Philadelphia;
Firstrust Bank;
Progress Bank;
Crusader Bank.]
[(x)]
Commerce Bank/Pennsylvania, N.A.;
[(y)
Asian Bank.
Pennsylvania Business Bank.
(aa)
The Philadelphia Trust Company.
(bb)
Summit Bank.
(cc)
Sovereign Bank.]
[(dd)]
Citizens Bank.
Mellon Bank.
SECTION 2.
No bank or institution shall be reinstated or added to this list until it comes into compliance with subsection (2)(f) of Section 19-201.
SECTION 3.
This Ordinance shall take effect July 1, 2003.
____________________________
Explanation:
Italics
indicate new matter added.
[Brackets] indicates matter deleted.
End