City of Somerville header
File #: 205678    Version: 1
Type: Communication Status: Placed on File
File created: 4/12/2018 In control: City Council
On agenda: 4/12/2018 Final action: 10/11/2018
Enactment date: 4/12/2018 Enactment #: 205678
Title: City Treasurer responding to #203230 re: whether the city can restrict financial institutions from participating in city borrowing.
Attachments: 1. Response #203230 - FirstSouthWest ltr

  Agenda Text

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City Treasurer responding to #203230 re: whether the city can restrict financial institutions from participating in city borrowing.

 

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Official Text

To the Honorable Board:

 

In response to Agenda Item 203230:

That the City Solicitor advise this Board whether the city may restrict financial institutions from participating in city borrowing based on their business activities, and whether the city may engage in a negotiated underwriting process with a preselected lending institution under certain circumstances.

 

Please see attached letter from FirstSouthWest in reference to this request.

 

Please contact me if I can be of further assistance.

 

Michael Bertino

Treasurer