In order to promote the purposes of this article and to protect the City’s interests, City banking transactions are exempt from application of Sec. 20.98 if the City Council determines that such application would otherwise be contrary to the best interests of the City. Such determination must be based on findings made by the City Council that set forth the nature of the proposed banking transaction, the interests being protected, alternatives available to the City, if any, and the manner in which granting the exemption protects the health, safety and welfare of the City’s citizens, employees or treasury.
SECTION HISTORY
Added by Ord. No. 167,683, Eff. 4-26-92.