City of Somerville header
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

  Agenda Text

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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.

 

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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.