(a) A petition drive political committee applying for the issuance of a petition serial number, and not previously registered with the city clerk as a political action committee, shall file a statement of organization pursuant to sections 12-83 and 12-84 of this code, with the city clerk at the same time the committee files the application for a petition serial number. No petition drive political committee shall receive any contribution, or make or promise to make any expenditure prior to filing a statement of organization.
(b) The petition drive political committee shall file an amended statement of organization reporting any change in the information prescribed in this article within ten (10) days after the change.
(c) The name of each petition drive political committee shall include the name of any sponsoring organization and the official serial number for the petition, if assigned.
(d) A petition drive political committee shall have a chairperson and treasurer. The position of chairperson and treasurer of a single petition drive political committee may not be held by the same individual.
(e) On the filing of a statement of organization, a petition drive political committee shall be issued a city identification number.
(f) Before any petition drive political committee accepts a contribution or makes an expenditure it shall also designate one (1) or more state banks, federally chartered depository institutions or depository institutions the deposits or accounts of which are insured by the federal deposit insurance corporation or the national credit union administration as its campaign depository or depositories. The petition drive political committee shall notify the city clerk of the designation of the financial institution either at the time of filing its statement of organization or within ten (10) business days after opening an account.
(g) All petition drive political committees shall preserve all their financial records for two (2) years following the end of the election cycle.
(Ord. No. 11525, § 2, 2-21-18)