PASSED
The enacted bill changes the requirements for banks and other institutions that hold Philadelphia city funds. Each depository must submit an annual statement about its community reinvestment goals, certify compliance with a City Code provision, and provide a long-term plan to address disparities in lending and investment; the City Treasurer must withdraw city funds from institutions that do not meet these requirements until they comply.
Amending Chapter 19-200 of The Philadelphia Code, entitled "City Funds - Deposits, Investments, Disbursements", by clarifying the requirements for city depositories.
Pass2006-03-02
Action by CITY COUNCIL
A motion was made that this matter be PASSED. The motion carried by the following vote:
16 Yes·0 No·0 Absent
Roll Call
| Member | Vote |
|---|---|
| Anna Cibotti Verna | Yes |
| Blondell Reynolds Brown | Yes |
| Brian J. O'Neill | Yes |
| Darrell L. Clarke | Yes |
| Donna Reed Miller | Yes |
| Frank J. DiCicco | Yes |
| Frank Rizzo | Yes |
| Jack Kelly | Yes |
| James F. Kenney | Yes |
| Jannie L. Blackwell | Yes |
| Joan L. Krajewski | Yes |
| Juan F. Ramos | Yes |
| Marian B. Tasco | Yes |
| Michael A. Nutter | Yes |
| Rick Mariano | Yes |
| W. Wilson Goode, Jr. | Yes |