4.4. SR 01-08-2001City of
E
River
TO:
FROM:
DATE:
SUBJECT:
MEMORANDUM
Mayor & City Council
Sandra Peine, City Clerk
January 8, 2001
Official Depositories
Item # 4.4
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 Requested
Adoption of the attached resolution authorizing the city's official depositories
for 2001.
13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · TDD & Phone (763) 441-7420 · Fax (763) 441-7425
RESOLUTION 01-1
A RESOLUTION OF 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:
2.
3.
4.
5.
First National Bank of Elk River
4M Fund
Wells Fargo
The Bank of Elk River
USBank
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 8th day of
January, 2001.
ATTEST:
Stephanie A. Klinzing, Mayor
Sandra A. Peine, City Clerk
s: \document\resoluti\OOOldeps.doc