Fiscal Note
No appropriation is required.
Title
Amending Sec. 39.02(9)(a)2.e. of the Madison General Ordinances to add credit rating agencies to the list of contract types that are exempt from the Affirmative Action contracting requirements.
Body
DRAFTER'S ANALYSIS: This ordinance adds credit rating agencies to the list of contracts that are exempt from the Affirmative Action contract requirements, which includes the requirements to file an Affirmative Action Plan and workforce utilization statistics, and to notify the City of job postings. Credit rating agencies perform services for the city that are related to borrowing. Adding them to this list is consistent with the existing exemption for bond underwriters and financial institutions when the contract relates to City borrowing.
***********************************************************************************
The Common Council of the City of Madison do hereby ordain as follows:
Subparagraph e. of Paragraph 2. entitled "Contract" of Subdivision (a) entitled "Definitions" of Subsection (9) entitled "Contract Compliance Provisions" of Section 39.02 entitled "Affirmative Action Ordinance" of the Madison General Ordinances is amended to read as follows:
"e. Agreements with bond underwriters, and agreements with financial institutions, and credit rating agencies, where the agreement relates to the City's borrowing."