2-32-035 City Asset Lease Agreements (C.A.L.A.) disclosure ordinance.

   (a)   The following City Asset Lease Agreement documents and any future lease agreements worth more than $10,000,000 shall be made publicly available as electronic, searchable files on the City of Chicago's Department of Finance website:

   1.   The ordinances establishing the leasing of or long-term concession concerning the Chicago Skyway Toll Bridge System, the Chicago Downtown Public Parking System, the Chicago Metered Parking System.

   2.   Any introduced legislation pertaining to proposed City asset lease agreements, worth more than $10,000,000, including all attachments and any amendments thereof, prior to its referral to the appropriate Chicago City Council Committee.

   3.   Any future City asset lease agreements approved by the Chicago City Council and worth more than $10,000,000, including all attachments, and any amendments thereof.

   4.   A separate accounting document detailing the allocation of lease proceeds including, but not necessarily limited to, appropriations, investments, interest income earned, and distributions to future budget years. This document should also detail the payment of all fees and expenses related to the lease transaction. Additionally, the document should list the names and fees paid to all financial consultants, auditors and/or financial institutions hired by the city to invest and manage City asset lease proceed funds.

   5.   A quarterly update of the accounting document for each city asset lease agreement. The Chief Financial Officer/Comptroller shall submit such update to the Chairman of the Committee on Finance and/or post such update on the Department of Finance's website, and shall appear before that Committee to present the status of each agreement where appropriate or necessary.

   (b)   In addition to the requirements set forth in subsection (a) of this section, any future lease agreements worth $400,000,000 or more shall be subject to the requirements set out in Chapter 2-164 of this Code.

(Added Coun. J. 6-3-09, p. 63075, § 2; Amend Coun. J. 11-18-15, p. 14398, § 3)

2-32-040 Comptroller – Supervision of bonds and sureties.

   Except where otherwise provided, all indemnifying bonds required to be given by any person to the city to insure the performance or carrying out of any contract entered into with the city, or the observance and performance of any ordinance of the city, or of any other obligation, promise, or undertaking shall be subject to the approval of the city comptroller.

   It shall be the duty of the comptroller, if at any time it comes to his knowledge that any or all of the sureties on any such bond or any indemnifying bond required to be filed with the city clerk are insolvent or will be unable to respond in damages in case any liability shall arise upon any such bond, to notify forthwith the principal or principals upon such bond of such fact, and direct that different and satisfactory sureties be at once procured.

   It shall be the duty of the comptroller to make, from time to time, such examination as is necessary to keep informed as to the responsibility and sufficiency of any and all sureties upon any such bond or bonds, filed either with him or with the city clerk, or kept on file in his office or the office of the city clerk. In the event of a refusal or neglect on the part of any principal or principals so notified by the comptroller to procure a satisfactory surety or sureties, when directed so to do as herein provided, the comptroller shall forthwith report to the city council, setting forth in such report, the name of the principal and sureties upon the bond and the nature of the contract, undertaking or obligation which such bond was given to secure, with such recommendations and further information as he may deem necessary and proper.

   Except where otherwise provided, all such bonds shall be filed in the office of the comptroller.

(Prior code § 7-4)

2-32-050 Deputy comptroller.

   There is hereby created the office of deputy city comptroller. The comptroller may appoint such number of deputies as may be provided for in the annual appropriation ordinance. The deputy comptroller shall, during the disability or absence of the comptroller, have and exercise the powers and duties of the comptroller and shall at all times have and exercise such powers and duties as may be assigned to him by the comptroller. The comptroller shall designate which deputy shall act during the disability or absence of the comptroller.

(Prior code § 7-5)

2-32-055 Municipal marketing authority.

   (a)   The chief financial officer is authorized to:

      1.   Identify specific City assets available for marketing and desirable to potential commercial partners;

      2.   Prioritize these assets in terms of ease of marketing and short- and/or long-term commercial value;

      3.   Develop a marketing plan for these assets;

      4.   Seek out commercial partners for asset- based transactions;

      5.   Structure marketing programs; and

      6.   Negotiate the terms of, and execute, asset-based marketing agreements with public and private entities.

   (b)   The chief financial officer may carry out the duties set forth in subsection (a) of this section either directly, or through a designee, agent or contractor, and is authorized to enter into one or more agreements to secure the services of such designee, agent or contractor.

   (c)   The chief financial officer shall not enter into any agreement pursuant to subsection (a) of this section that effectuates the sale of a city asset.

   (d)   Section 10-8-320 shall not apply to any assets used pursuant to this section.

   (e)   The chief financial officer is authorized to promulgate reasonable rules relating to the administration of this section.

   (f)   As used in this Section, the following definitions apply:

   "Assets" means all assets available to the City, including without limitation tangible physical assets, such as buildings, vehicles and other equipment, and intangible intellectual property, such as patents, copyrights, and trademarks owned by the City, and other intangible opportunities, such as event sponsorship.

   "Chief financial officer" means the chief financial officer of the City appointed by the mayor or, if there is no such officer then holding that office, the city comptroller.

(Added Coun. J. 11-16-11, p. 13798, Art. VII, § 1)

2-32-060 Treasurer – Accounting and reports on city funds.

   The city treasurer shall receive all monies belonging to the city, and shall render at the end of each month, and oftener if required by the comptroller, a statement, under oath, to the comptroller, showing the state of the treasury at the date of such account and the balance of the money in the treasury. Such statement shall set forth all the monies received by him, and from whom, and on what account such monies shall have been received. It shall also show all monies paid out by him, and on what account the same shall have been paid.

   The city treasurer shall cause books of account to be kept in such manner as to show with entire accuracy all monies received by him, and from whom, and on what account they shall have been received; and all monies paid out by him, and on what account they shall have been paid; and the same shall be shown in such manner that such books may be readily understood and investigated. Such books, and all papers and files of his office, shall at all times be open to the examination of the comptroller, the committee on finance, or any member of the city council.

   There shall be no ineligibility of, nor disqualification or limitation upon, any person being elected to successive terms as city treasurer. Any prior law, statute or ordinance to the contrary notwithstanding, no restriction on succession in the office of city treasurer shall be applicable.

(Prior code § 7-6)

2-32-065 Treasurer's authority for financial education and outreach programs.

   The city treasurer shall have the authority to research, conduct educational programs, provide counseling and disseminate information regarding financial education, small business support and access to banking (for purposes of this section, collectively "financial programs") for residents of the city. The city treasurer is authorized to organize, administer and deliver financial programs either directly or through agents. In furtherance of organizing, administering and delivering financial programs, the city treasurer shall have the authority to: (1) award and apply for, and accept on behalf of the city, grants; and (2) enter into service agreements with public and private entities; and perform any and all acts, including the expenditure of funds subject to appropriation therefor, as shall be necessary or advisable in connection with such service agreements, including any renewals thereto.

   The city treasurer is authorized to enter into and execute sponsorship agreements, containing terms and conditions that she deems appropriate, in conjunction with the treasurer's Small Business Entrepreneur Expo Program (for purposes of this paragraph, "Expo"). For purposes of this paragraph, the term "sponsor(s)" means those persons providing money or other in-kind goods or services to the city in exchange for advertising or promotional rights at Expo. Sponsors may, in the discretion of the city treasurer, and upon such terms as the city treasurer determines, sell goods and services to the public at Expo.

(Added Coun. J. 11-19-08, p. 47220, Art. III, § 1; Amend Coun. J. 5-12-10, p. 89520, § 1; Amend Coun. J. 1-13-17, p. 44846, § 1)