500 14th St
Oakland, CA 94612
USA
Tomorrow! 9am! Finance Committee will vote on funding the feasibility study for the Public Bank of Oakland. #oakmtg #ourmoneyourbank
— Oakland Public Bank (@OaklandBank) June 12, 2017
Item #4
Subject: Feasibility And Economic Impact Of Establishing A Public Bank
From: Finance Department
Recommendation: Adopt A Resolution (1) Amending The City Of Oakland’s Fiscal Year (FY) 2016-17 Midcycle Budget (Which Was Adopted Pursuant To Resolution No. 86250 C.M.S. On June 21,2016) To Appropriate One Hundred Thousand Dollars ($100,000), From The Fiscal Year 2016-17 General Purpose Fund (1010) Balance For A Contract To Complete A Feasibility Study On Public Banking In Oakland, And (2) Authorizing The City Administrator Or Her Designee To Negotiate A Scope Of Work, Terms And Execute A Contract With Global Investment Company In An Amount Not To Exceed One Hundred Thousand Dollars ($100,000)
The Finance Committee will be deciding on whether or not to fund our feasibility study. This is an important meeting; please come and wear your t-shirt if you have one. (Let us know if you want one.)
If you can join us on June 13,
1. Go online to https://solar.oaklandnet.com/Speaker/form and fill out a card. Choose item 4. Be sure to click Next and Register. Even if you don’t want to speak, get a card, so you can cede your time to someone who wants to speak longer.
2. Show up at 9:oo a.m.! We are early on the agenda for once.
Read the Friends of the Public Bank of Oakland mission statement.
The Public Bank of Oakland will:
- Get Oakland out from under the control of nonlocal big banks
- Reduce the cost of lending and borrowing for the City of Oakland and nearby communities that make use of the Bank
- Solve the problem of millions of dollars in cash that the cannabis industry cannot legally deposit in private banks
- Bring jobs, affordable housing, new small businesses and worker cooperatives, infrastructure, credit, and independence to our city