3.3. SR 01-12-2004City
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
Mayor and City Council
Joan Schmidt, City Clerk
January 12, 2004
Designation of Official Depositories
Item #3.3
State Statute and Elk River Code 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
Council makes a motion adopting the attached resolution authorizing the city's official
depositories for 2004.
S: \Council\Joan\depositories .doc
RESOLUTION 04-
A RESOLUTION OF 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:
4.
5.
6.
First National Bank of Elk River
4M Fund
Wells Fargo
The Bank of Elk River
US Bank
Riverview Community Bank (in Otsego)
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 12th day of January,
2004.
ATTEST:
Stephanie A. Klinzing, Mayor
Joan Schmidt, City Clerk
S: \Council\Joan\depositories.doc