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Record #: Or2014-201   
Type: Order Status: Failed to Pass
Intro date: 4/30/2014 Current Controlling Legislative Body: Committee on Finance
Final action: 5/20/2015
Title: Call for Chief Financial Officer to notify City Council of intent to sell municipal bonds
Sponsors: Arena, John, Fioretti, Bob, Waguespack, Scott, Munoz, Ricardo, Sawyer, Roderick T., Hairston, Leslie A.
Topic: CITY DEPARTMENTS/AGENCIES - Finance
Attachments: 1. Or2014-201.pdf
Related files: R2015-407
Finance
 
 
ORDER
ORDERED That the Chief Financial Officer of the City of Chicago shall notify the City Council, through its Committee on Finance, of the intent to sell municipal bonds no less than 15 days before such sale, nor more than 45 days before such sale, and such notice shall include the amount anticipated to be issued, the expected term of the bonds, and an estimate of the interest rate of the bonds; and
FURTHER ORDERED That the Chief Financial Officer of the City of Chicago shall similarly notify the City Council, through its Committee on Finance, if any intended sale does not take place, and shall provide an explanation of why such sale did not take place; and
FURTHER ORDERED That, should such sale take place, the Chief Financial Officer of the City of Chicago shall similarly notify the City Council, through its Committee on Finance, with 15 days of the completion of such sale of any series of municipal bonds, and that such notice will include the amount issued, the term of the bonds, and the interest rate of the bonds.