Share to Facebook Share to Twitter Bookmark and Share
Record #: O2019-9391   
Type: Ordinance Status: Passed
Intro date: 12/18/2019 Current Controlling Legislative Body: Committee on Finance
Final action: 1/15/2020
Title: Amendment of Municipal Code Section 2-32-515 to make City Investment Policy compliant with Illinois Sustainable Investing Act
Sponsors: Misc. Transmittal
Topic: MUNICIPAL CODE AMENDMENTS - Title 2 - City Government & Administration - Ch. 32 Dept. of Finance
Attachments: 1. O2019-9391.pdf
Office df the C ITY TREASURER


December 17, 2019

The Honorable Anna Valencia City Clerk
City Hall, Room 107 121 North LaSalle Street Chicago, IL 60602

Dear Clerk Valencia,

Enclosed please find two copies of an ordinance that my office would like to introduce at the December 18, 2019 City Council meeting to be referred to the Committee on Finance.

Thank you for your prompt attention to this matter, and feel free to contact Michelle Murphy of my staff at 312-744-5195.

Melissa Conyears^Ervin City Treasurer
MCE/mmm Enclosure
m c~>
-j ~o
rr. n:

City Hall, Room 1 ? 6 • 121 North LaSalle Street • Chicago, Il 6 C 6 ? 2 312.744.3356 • FAX: 312.236.6935 • TTY: 312.744.692C

WHEREAS, The City of Chicago (the "City") is a home rule municipality as defined in Article VII, Section 6 of the Illinois Constitution; and

WHEREAS, Pursuant to its home rule power, the City may exercise any power and perform any function relating to its government and affairs including the power to regulate forthe protection ofthe public health, safety, morals, and welfare; and
WHEREAS, One of the main functions of the Office of the City Treasurer is to invest the City's portfolio to get the best rate of return while protecting the principal; and

WHEREAS, The City's investment policy along with the internal policy ofthe Office of the City Treasurer sets forth the types of investments that the Office of the City Treasurer can make with the City's portfolio funds; and

WHEREAS, The Illinois State Legislature approved the Illinois Sustainable Investing Act, 30 ILCS 238/1 et seq., which Governor Pritzker signed into law on August 23, 2019, to take effect on January 1, 2020; and

WHEREAS, The purpose ofthe Illinois Sustainable Investing Act is to prudently integrate sustainability factors into the investment decision-making, investment analysis, portfolio construction, due dili...

Click here for full text