Upon completion of the first evaluation and ranking of banking institutions pursuant to this article, and thereafter, prior to conducting any banking transactions to which this article applies, the Treasurer shall review the ranking of the performance of each and every such banking institution. A banking institution which fails to submit the information required by this article shall not be eligible to conduct City banking transactions.
The Treasurer shall, consistent with sound fiscal practice and applicable law, include as a factor in the choice of banking institutions with whom to conduct City banking transactions the Treasurer’s evaluation and ranking of banking institutions as described herein and adopted hereto. The Treasurer may, upon making such evaluation and ranking, take the following measures:
(a) Increase the level of City banking business held by a banking institution;
(b) Freeze the level of City banking business in the institution at its then current level;
(c) Withdraw City banking business from a banking institution;
(d) Enter into negotiations with a banking institution aimed at promoting institutional programs and behavior that are consistent with the public policy goals heretofore stated;
(e) Take other such steps, consistent with sound fiscal practice and applicable law, as may be necessary or desirable.
SECTION HISTORY
Added by Ord. No. 167,683, Eff. 4-26-92.