City of Somerville, Massachusetts - File #: 203230

• File #: 203230
• Version: 1
• Type: Order
• Status: Approved
• File created: 4/12/2017
• In control: City Council
• On agenda: 4/13/2017
• Final action: 10/11/2018
• Enactment date: 4/13/2017
• Enactment #: 203230
• Title: 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 pre-selected lending institution under certain circumstances.
• Sponsors: Lance L. Davis

Date	Ver.	Action By	Action	Result
10/11/2018	7	City Council	Work completed
10/9/2018	6	Finance	Work completed
4/10/2018	5	Finance	Kept in committee
2/22/2018	4	City Council	Recommended to be sent for discussion
10/5/2017	3	Legislative Matters Committee	Kept in committee
4/13/2017	2	City Council	Approved

  Agenda Text

title

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 pre-selected lending institution under certain circumstances.

body

Official Text

That the City Solicitor advise this Board as to any options available to limit or restrict financial institutions from participating in city borrowing opportunities based on such institution's business activities, including, for example only, involvement in lending for projects such as pipelines and, further, whether the city can engage in a negotiated underwriting process with a pre-selected lending institution under certain circumstances.