Office of the City Clerk - Record #: O2015-4720

• Record #: O2015-4720
• Type: Ordinance
• Status: Passed
• Intro date: 6/17/2015
• Current Controlling Legislative Body: Committee on Finance
• Final action: 7/29/2015
• Title: Intergovernmental agreement between Chicago City Treasurer and Public Building Commission of Chicago regarding investment portfolio management
• Sponsors: Emanuel, Rahm
• Topic: AGREEMENTS - Intergovernmental

Date	Journal Page Number	Action By	Action	Result
8/10/2015		City Council	Signed by Mayor
7/29/2015	2231	City Council	Passed	Pass
7/27/2015		Committee on Finance	Recommended to Pass
6/17/2015	494	City Council	Referred

ORDINANCE
WHEREAS, the City of Chicago (the "City") is a municipal corporation and home rule unit of government under Article VII, Section 6(a) of the 1970 Constitution of the State of Illinois; and
WHEREAS, the Public Building Commission of Chicago (the "Commission") is an Illinois municipal corporation; and
WHEREAS, the Commission has requested that the City, acting by and through its Office of the City Treasurer, provide certain services with respect to a portion of the Commission's investment portfolio, which will remain in the name of the Commission, and which services shall include assisting the Commission in executing trades of approved securities at the Commission's direction and transferring funds between investment accounts and the Commission as appropriate at the Commission's direction; now, therefore,

BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:

Section 1. The recitals of this ordinance are hereby incorporated into this text as if set out herein in full.

Section 2. The City Treasurer (the "Treasurer") or a designee thereof is hereby authorized to execute, subject to the review of the Corporation Counsel as to form and legality, an agreement with the Commission in substantially the form attached hereto as Exhibit 1, and such other documents as are deemed necessary, between the City and the Commission, which agreement and other necessary documents may contain such other terms as are deemed necessary or appropriate by the Treasurer. The Treasurer and the designees thereof are authorized to execute such additional documents, information, assurances and certifications and to take such additional actions as may be necessary or required pursuant to the aforementioned agreement as contemplated therein.

Section 3. To the extent that any ordinance, resolution, rule, order or provision of the Municipal Code of Chicago, or part thereof, is in conflict with the provisions of this ordinance, the provisions of this ordinance shall be controlling. If a...