08-001 RESRESOLUTION NO. 08- O1
• A RESOLUTION OF THE CITY OF ELK RIVER
A RESOLUTION 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 treasurer to annually
designate a bank (or banks) as the official depository for city funds and manage the collateral
pledged to such funds.
BE IT RESOLVED, by the City Council of the City of Elk River that the following named
banks are hereby designated as the City's official depositories for the funds of the City of Elk
River, Minnesota for 2008:
1. First National Bank of Elk River
2. 4M Fund
3. Wells Fargo
4. The Bank of Elk River
5. US Bank
6. Riverview Community Bank (in Otsego)
7. TCF Bank
BE IT FURTHER RESOLVED that the city finance director 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 7`h day of January, 2008.
Stepl anie A. Klinzing, Ma
ATTEST:
~°"` ,
Tina Allard, City Clerk
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