Philadelphia Bans Contracts with Iran and Sudan Businesses Amid New City Law

Official:Amending Section 17-104 of The Philadelphia Code, relating to "Prerequisites to the Execution of City Contracts," by adding a new subsection prohibiting the acceptance of bids on City contracts from, or the execution of original or renewal contracts with, corporations or other business entities that do business in Iran or Sudan, and imposing duties on the Procurement Department with respect to said prohibition and certain other related matters; and amending Section 19-201 of The Philadelphia Code, relating to "City Depositories," by adding provisions restricting City Depositories from providing certain services to corporations, banks, or financial institutions that do business in Iran or Sudan, and imposing duties on the City Treasurer with respect to said restrictions, and amending Section 22- 1001, relating to "Investments," by adding a new subsection requiring the Board of Pensions and Retirement to divest from business entities doing business in Iran or Sudan, all under certain terms and conditions.