(a) Powers and duties of the city treasurer.
(1) In selecting and monitoring qualified depositories for city moneys in accordance with Dallas City Charter, Chapter III, Section 20, the city treasurer shall have the power and duty to:
(A) require that prospective bidders provide the city with data on their socially responsible banking practices;
(B) use socially responsible banking performance as a factor in determining the winning bid;
(C) accept bids for depository services only from financial institutions that have received a rating of "satisfactory" or "outstanding" in their most recent Community Reinvestment Act review by the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, or the Federal Reserve Board;
(D) include in contracts for depository services a statement of work in accordance with Section 2-78(a) that provides a framework for socially responsible banking; and
(E) gather an annual report required to be submitted by city depositories by May 1 or the first business day following May 1 if May 1 falls on a non-business day in accordance with Section 2-78. The city treasurer may accept an annual Environmental, Social, and Governance (ESG) report (or other similar document) produced in the ordinary course of business by the financial institution, provided it substantially addresses the requirements set forth in this Section 2-78. If the financial institution does not produce an annual ESG report or the annual ESG report does not substantially address the requirements in this subparagraph, the city treasurer shall require delivery of an annual report in accordance with Section 2-78.
(2) With written notice to the city council, the city treasurer may waive the requirement in Section 2-77(a)(1)(C):
(A) if no qualified bidders apply;
(B) if the federal program is no longer applicable; or
(C) to satisfy a compelling city need.
(3) The city treasurer shall provide an annual briefing to the appropriate city council committee. The committee shall review the implementation, effectiveness, and enforcement of Section 2-77(a)(1)(E) and make recommendations to city council regarding the authorization of city depositories.
(4) The city treasurer may request a voluntary report, consistent with that required by Section 2-77(a)(1)(E), from other financial institutions with which the city does business.
(b) Disqualification from contracting. Any depository that fails to submit to the city the required reporting information in accordance with Section 2-77
(a)(1)(E) may be prohibited from entering into any contract with the city as a qualified depository for city moneys for a period of five years. (Ord. 32211
)