3.4. SR 01-05-1998**ITEM 3.4.**
~.ty of
iver
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
Mayor and City Council
Sandra Thackeray, City Clerk
January 5, 1998
Official Depositories
Minnesota Statute 118 requires that each city designate an official depository
or depositories for the deposit of its funds. The attached resolution outlines
the depositories to be used for that purpose.
Action Requested
The City Council is asked to approve the 'attached resolution authorizing the
city's official depositories for 1998.
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13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · TDD & Phone: (612) 441-7420 · Fax: (612) 441-7425
RESOLUTION 98-1
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION DESIGNATING DEPOSITORIES OF CITY FUNDS
BE IT RESOLVED, by the City Council of the City of Elk River that the
following named banks are hereby designated as the depositories for the
funds of the City of Elk River, Minnesota:
2.
3.
4.
5.
The Bank of Elk River
First National Bank of Elk River
4 M Fund
Norwest Bank
First Banks
BE IT FURTHER RESOLVED that the City Treasurer may recommend
that additional depositories be designated for purposes of investing City
funds.
Passed and adopted by the City Council of the City of Elk River this 5th day of
January, 1998.
Henry A. Duitsman, Mayor
ATTEST:
Sandra Thackeray, City Clerk
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