3.6. EDSR 01-16-2018
Request for Action
To Item Number
Economic Development Authority 3.6
Agenda Section Meeting Date Prepared by
Consent January 16, 2018 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 2018.
Background/Discussion
As per EDA Bylaws, the designation of official depositories is suggested at the Annual Meeting.
Historically, the EDA has designated depositories similar to those designated by the City Council. For
2018, 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
The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional
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