Office of the City Clerk - Record #: O2022-3938

• Record #: O2022-3938
• Type: Ordinance
• Status: Passed
• Intro date: 12/14/2022
• Current Controlling Legislative Body: Committee on Finance
• Final action: 12/14/2022
• Title: Designation of municipal depositories of City of Chicago and Chicago Board of Education for Fiscal Year 2023
• Sponsors: Dept./Agency
• Topic: FINANCE FUNDS - Depositories of City/School Funds

Date	Journal Page Number	Action By	Action	Result
12/14/2022	57824	City Council	Passed	Pass
12/12/2022		Committee on Finance	Recommended to Pass
12/12/2022		Committee on Finance	Direct Introduction

1




CH ICAGO December 14, 2022

To the President and Members of the City Council:

Your Committee on Finance having had under consideration a communication recommending a proposed ordinance regarding the designation of municipal depositories of City of Chicago and Chicago Board of Education.

Direct Introduction
























Having had the same under advisement, begs leave to report and recommend that your Honorable Body pass the proposed


This recommendation was concurred in by viva voce vote of members of the
committee with|99|dissenting vote(s).


Respectfully submitted,



(signed)

Chairman
CITY OF CHICAGO
— -*
DEPARTMENT OF FINANCE







December 12, 2022



TO THE HONORABLE, THE CHAIRMAN AND MEMBERS OF THE CITY COUNCIL COMMITTEE ON FINANCE


Ladies and Gentlemen:
I transmit herewith an ordinance designating the financial institutions to serve as municipal depositories for fiscal year 2023 pursuant to Section 2-32-400 of the Municipal Code.
Your favorable consideration of this ordinance will be appreciated.

Reshma Soni Comptroller
121 NORTH LASALLE STREET. ROOM 700. CHICAGO, ILLINOIS 60602


Very truly yours,

ORDINANCE
WHEREAS, on September 9, 2022 the City Comptroller advertised for bids from national and state banks and federal and state savings and loan associations for interest upon the funds of the City of Chicago and of the Chicago Board of Education to be deposited in banks and savings and loan associations, in accordance with Section 2-32-400 of the Municipal Code of Chicago (the "Code"); and
WHEREAS, the City Comptroller received bids from financial institutions seeking to be designated as municipal depositories (the "Bids"), and subsequently, determined that 11 bidders were eligible to be so designated; and
WHEREAS, pursuant to Section 2-32-400 of the Code, the City Comptroller posted the Bids on its website as well as the City of Chicago Data Portal, except to the extent that the information to be published is redacted because it ...