6.1. SR 01-04-1993
ITEM 6. 1.
TO: MAYOR & CITY COUNCIL
FROM: LORI JOHNSON, FINANCE DIRECTOR
DATE: DECEMBER 29, 1992
SUBJECT: RESOLUTION DESIGNATING
DEPOSITORIES OF CITY FUNDS FOR 1993
Each year the City is required by law to designate
for the year. Attached is a resolution
depositories for City funds for 1993.
depositories
designating
There are two name changes from last year. Bankers Systems
Investment Centers is now Primevest and Security Financial is
now Metropolitan Financial. In addition, Marquette National
Bank of Minneapolis has been deleted; the City has not invested
with Marquette for several years as Marquette's rate is usually
lower than other investment options.
.
.
720 Dodge Avenue N.W., Elk River, Minnesota 55330 (612) 441-7420
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RESOLUTION 93 -
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. Metropolitan Federal of Elk River
4. Primevest
5. Merrill Lynch
6. Prudential Bache
7. Shearson Lehman Hutton
. 8. Norwest Bank
9 . Dain Bosworth
10. Paine Webber
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 4th day of January, 1993.
Hank Duitsman, Mayor
ATTEST:
Sandra Thackeray, City Clerk
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