3.3. SR 01-11-1999
rll ---'\)
( );
!fit
**Item 3.3.**
River
MEMORANDUM
TO:
Mayor and City Council
FROM:
Sandra Peine, City Clerk
DATE:
December 11, 1999
SUBJECT: 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 Reauested
.
Adoption of the attached resolution authorizing the city's official depositories
for 1999.
\ \elkriver \sys \shrdoc \council\deposit.doc
.
13065 Orono Parkway. P.O. Box 490. Elk River, MN 55330. TDD & Phone: (612) 441-7420. Fax: (612) 441-7425
.
.
.
RESOLUTION 99-1
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:
1. The Bank of Elk River
2. First National Bank of Elk River
3. 4 M Fund
4. Norwest Bank
5. 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 11th day
of January, 1999.
Stephanie A. Klinzing, Mayor
ATTEST:
Sandra Peine, City Clerk
'\ '\elkriver '\sys '\shrdoc '\document '\resoluti'\97 -ldeps.doc