Design and Implementation of Disclosure Controls and Procedures
San Diego Municipal Code § 22.4106
in effect§22.4106 Design and Implementation of Disclosure Controls and Procedures
(a) The Disclosure Practices Working Group shall from time to time review the City’s disclosure practices and procedures and shall recommend to the City Manager and the City Council such new disclosure controls and procedures as may be necessary or advisable to ensure the accuracy of the City’s disclosures and the City’s compliance with all applicable federal and state securities laws. Such disclosure controls and procedures shall be in writing and designed to ensure:
(1) that information material to the City’s proposed and outstanding securities is compiled and communicated to senior City officials, including the City Manager, Chief Operating Officer, Chief Financial Officer, City Attorney, and the City Council, as appropriate, to allow timely decisions regarding disclosure;
(2) that such information is prepared in a timely manner to enable such senior City officials to certify the accuracy of disclosures made in connection with City financings;
(3) compliance with all applicable federal and state securities laws, including ensuring the disclosure of all material information with respect to the City’s proposed and outstanding securities; and,
(4) the preservation of an audit trail regarding information prepared and reviewed in connection with such disclosures.
(b) Such disclosure controls and procedures shall address the accurate and timely disclosure of information in connection with securities issued by the City and by its related entities.
(c) The City Manager shall implement the recommendations of the Disclosure Practices Working Group relating to disclosure controls and procedures as soon as practicable, or shall within 45 days of receiving such recommendations provide the City Council with a report as to why such recommendations should not be implemented. The City Council shall review such report of the City Manager to determine whether such report of the City Manager is reasonable and carries out the program of this Division.
(Added 10-11-2004 by O-19320 N.S.)
(Amended 5-2-2007 by O-19612 N.S.; effective 6-1-2007.)
(Amended 2-19-2008 by O-19717 N.S.; effective 3-20-2008.)
(Renumbered from former Section 22.4105 and amended 3-29-2010 by O-19942 N.S; effective 4-28-2010.)
Source: City of San Diego Office of the City Clerk, San Diego Municipal Code and City Charter (docs.sandiego.gov PDFs)URL: https://docs.sandiego.gov/municode/MuniCodeChapter02/Ch02Art02Division41.pdf#page=5Fetched: 10/28/2026