RES 18-01�— Cc ky of EN River
ver City Counc R
Resolution 98- o1
A Resolution of the City Council of the City of Elk River Designating
Depositories of City Funds
WHEREAS, Minnesota Statutes Section 118A.02 sets forth the procedures for the deposit
of public funds and it is necessary for the Elk 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.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk
River, Minnesota, as follows: the following named banks are hereby designated as the city's
official depositories for the funds of the City of Elk River, Minnesota:
1. First National Bank of Elk River
2. 4M Fund
3. Wells Fargo
4. The Bank of Elk River
5. US Bank
6. UBS Financial Services
BE IR FURTHER RESOLVED the city finance director may recommend additional
depositories be designed for the purpose of investing funds.
Passed and adopted this 2"' day of January 2018.
hn J Dietz, Mayor
ATTEST:
Tina Allard, City Clerk
►DRERED ROE'