2-154-017 Diversity in firms – Debt obligation transactions.

   (a)   For purposes of this section the following definitions shall apply:

      (1)   "Chief financial officer" has the meaning ascribed to the term in Section 1-4-090.

      (2)   "Debt obligation transaction" means a transaction for the issuance of bonds by the City.

      (3)   "Reporting firm" means any law firm, financial advisor or underwriter that provides professional services to the City in connection with a debt obligation transaction.

   (b)   (1)   In connection with and before the introduction of an ordinance authorizing a debt obligation transaction, a reporting firm shall provide to the chief financial officer the gender, role and race or ethnicity of those who will directly provide services for any particular transaction. The chief financial officer shall provide the information received pursuant to this subsection (b) to the city council.

      (2)   A reporting firm shall certify the accuracy of the disclosures and information required by this subsection (b). The disclosures and information required by this subsection (b) shall be provided in a form and manner approved by the chief financial officer.

   (c)   The chief financial officer is authorized to adopt rules and regulations for the proper administration and enforcement of this section.

   (d)   (1)   Except as otherwise provided in subsection (d)(2), any reporting firm that fails to comply with this section may, as determined by the chief financial officer based on objective criteria, be declared ineligible to participate in future debt obligation transactions.

      (2)   Any reporting law firm that fails to comply with this section may, as determined by the corporation counsel based on objective criteria, be declared ineligible to participate in future debt obligation transactions.

(Added Coun. J. 11-19-14, p. 98082, § 2)

2-154-018 Diversity in firms – Outside brokers.

   (a)   (1)   Any person providing brokerage services to the city pursuant to a service contract duly executed by the city treasurer (for purposes of this section, "reporting firm"), shall provide the gender, role and race or ethnicity of those who will directly provide brokerage services to the city. The city treasurer shall provide the information received pursuant to this subsection (a) to the city council.

      (2)   A reporting firm shall certify the accuracy of the disclosures and information required by this subsection (a). The disclosures and information required by this subsection (a) shall be provided in a form and manner approved by the city treasurer.

   (b)   The city treasurer is authorized to adopt rules and regulations for the proper administration and enforcement of this section.

   (c)   Any reporting firm that fails to comply with this section may, as determined by the city treasurer based on objective criteria, be declared ineligible to participate in future brokerage service contracts.

(Added Coun. J. 11-19-14, p. 98082, § 2)

2-154-020 Information to be kept current.

   All disclosures and information shall be current as of the date upon which the application is presented to the city council or other city agency, and shall be maintained current until such time as the city council or other city agency shall take action on the application. Provided, however, that all disclosures and information pertaining to matters resulting in ineligibility to do business with the city under Article I of Chapter 1-23 of this Code shall be maintained current as of the date upon which the application is presented to the city council or other city agency, and until such time as the city council or other city agency shall take action on the application, and thereafter at all times while the person or entity required to provide disclosures and information is engaged in doing business with the city pursuant to an ordinance, ordinance amendment, city council approval or other city agency approval for which application was made to the City of Chicago under this chapter.

(Prior code § 26.1-2; Amend Coun. J. 6-30-10, p. 95061, § 4; Amend Coun. J. 9-8-10, p. 99116, § 4)

2-154-030 Additional information authorized when.

   Notwithstanding any of the above provisions, the corporation counsel, and also the chief procurement officer with respect to contracts awarded by the chief procurement officer, may require any such additional information from any applicant which is reasonably intended to achieve full disclosure relevant to the application for action by the city council or other city agency.

(Prior code § 26.1-3; Amend Coun. J. 12-8-04, p. 38063, § 1)