RES 14-01 City of
Elk
Wver
Resolution 1 ®oL
Resolution of the City of Ellt River Designating Depositories of City Funds
Minnesota Statutes Section 118A.02 sets forth the procedures for the deposit
of public funds and it is necessary for the Ella River City Council or city finance director to
annually designate a bank(or banks) as the official depository for city funds and manage the
collateral pledged to such funds.
THEREFORE, IT RESOLVED by the City Council of the City of Elk
River, Minnesota, that the following named banks are hereby designated as the city's official
depositories for the funds of the City of Ella River,Minnesota for 2013:
1. First National Bank of Ella River
2. 4M Fund
3. Wells Fargo
4. The Bank of Elk River
5. US Bank
6. TCF Bank
BE IT FUTHER RESOLVED that the city finance director may recommend that
additional depositories be designated for purposes of investing funds.
Passed and adopted this 6"' day of January 2014.
J n J. ietz,
ATTEST;
Tina Allard, City Clerk
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