3.6 EDSR 01-19-2016 ht °f Request for Action
River
To Item Number
Economic Development Authority 3.6
Agenda Section Meeting Date Prepared by
Consent Agenda January 19,2016 Amanda Othoudt, EDD
Item Description Reviewed by
Designation of Official Depositories Cal Portner, City Administrator
Reviewed by
Action Requested
Designate,by motion, the referenced banks and institutions as official depositories for the EDA for 2016.
Background/Discussion
As per EDA Bylaws, the designation of official depositories is suggested at the Annual Meeting of the
EDA.
Historically, the EDA has designated depositories similar to those designated by the City Council. For
2016, the EDA is asked to designate the following banks and institutions as depositories for its funds:
• First National Bank of Elk River
• 4M Fund
• Wells Fargo Bank
• The Bank of Elk River
• US Bank
• TCF Bank
• UBS
Financial Impact
N/A
Attachments
• N/A
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