Amending Chapter 19-200 of The Philadelphia Code, entitled "City Funds - Deposits, Investments, Disbursements," by amending Section 19-201, entitled "City Depositories," by authorizing the City Treasurer to deposit funds in Santander Bank, National Association, under certain terms and conditions.
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Section 19-201 of The Philadelphia Code is hereby amended to read as follows:
TITLE 19. FINANCE, TAXES AND COLLECTIONS
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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:
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(l)
JPMorgan Chase Bank, N.A.
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(m)
Santander Bank, N. A.
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SECTION 2. This Ordinance shall take effect immediately.
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Explanation:
Italics
indicate new matter added.
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