CITY OF CHICAGO
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DFPARTMFNT OF FiNANCF
January 24, 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 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
Veiy truly yours,
ORDINANCE
WHEREAS, on October 7, 2021 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 ofthe 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 is exempted from disclosure by the Illinois Freedom of Information Act or any other applicable law; and
WHEREAS, pursuant to Section 2-32-400 of the Code, the Committee on Finance held a subject matter hearing on December 7, 2021 to discuss the Bids; and
WHEREAS, pursuant to Section 2-32-400 of the Code, the City Comptroller reported such Bids to the City Council in a memorandum dated December 10, 2021 to the end that an award or awards may be made upon such Bids; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. The following national and state banks and federal and state savings and loan assoc...
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