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services and expertise in the public finance sector regardless of whether or not it is a <br />community bank or credit union. <br /> <br /> The City has placed millions of dollars in local community banks through a competitive <br />bid process for Certificates of Deposit. Any bank with a branch in the city that is either a <br />qualified depository or uses the CDARS program to ensure the collateralization of public <br />funds is eligible to place a bid. This process has recently been broadened to include <br />credit unions. Over time we have found that community banks offer very competitive <br />rates. Many community banks and credit unions have chosen not to participate in recent <br />bid requests. Some of those institutions have indicated they have not submitted bids as <br />their cash positions are robust and they are not in need of additional funds. <br /> <br /> The City should monitor this bill closely as there could be significant impacts to the City <br />if this bill moves forward as written. <br /> <br /> <br />HB 4142 <br /> <br />Relating Clause: Relating to preferences in public contracting for paper; creating new provisions; <br />amending ORS 279A.125; and declaring an emergency. <br /> <br />Title: Requires contracting agency to apply certain preferences in awarding contracts related to <br />certain goods manufactured from recycled materials. Declares emergency, effective on <br />passage. <br /> <br />Sponsored by: Sponsored by Representatives ROBLAN, HOYLE; Representatives BAILEY, <br />BUCKLEY, DEMBROW, FREDERICK, GARRETT, HOLVEY, KENNEMER, KOMP, <br />KOTEK, MATTHEWS, READ, WITT (Presession filed.) <br /> <br />URL: http://www.leg.state.or.us/12reg/measpdf/hb4100.dir/hb4142.intro.pdf <br /> <br />Contact Respondent Dept Updated Priority Recommendation <br />Jamie Garner CS-FIN 1/27/2012 Pri 2 Support <br /> <br />Comments: The impacts to the City from a financial perspective would be minimal and the only <br />negative that I can see is possible retaliatory bills from other states attempting to protect <br />their paper industry. This bill seems to align with the City’s priorities regarding <br />sustainability and it would be relatively simple to add this language to existing <br />procedures on procurement of paper. <br /> <br />Contact Respondent Dept Updated Priority Recommendation <br />Mike Penwell CS-FAC 1/27/2012 -- -- <br /> <br />Comments: I defer to others on this one. <br /> <br />Contact Respondent Dept Updated Priority Recommendation <br />Paul Klope PWE 1/30/2012 -- -- <br /> <br />Comments: I defer to Jamie. <br /> <br /> <br />8 | Page <br />February 8, 2012 IGR Committee Meeting <br /> <br />