Title
Subject: Prompt Payment Policy
From: Councilmember Desley Brooks
Recommendation: Approve The Final Passage (Second Reading) Of An Ordinance Establishing A Prompt Payment Policy Requiring Payment Within 20 Business Days After Receipt Of An Invoice For Purchase Of Goods And/Or Services Applicable To 1) The City With Respect To Contracts Let Directly To Local Businesses, 2) To Non-Profit And For-Profit Entities Contracted To Manage Or Operate City Facilities Or Public Programs Or Concessions On City-Owned Property, And 3) To City Contractors With Respect To Their Subcontractors, And Imposing Interest Penalties For Violations, To Be Codified At Oakland Municipal Code Title 2, Chapter 2.06 (TITLE CHANGE)