4.4. SR 01-13-2003River
TO:
FROM:
DATE:
SUBJECT:
MEMORANDUM
Mayor and City Council
Sandra Peine, City Clerk
January 13, 2003
Official Depositories
**Item 4.4.**
Minnesota Statute requires that each city designate an official depository or depositories for
the deposit of its funds. The attached resolution oudines the depositories to be used for that
purpose.
ACTION REQUESTED
Adoption of the attached resolution authorizing the city's official depositories for 2003.
S / Coundl/ Sandoy/ depositomr
RESOLUTION 03-
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:
I. First National Bank of Elk River
2. 4M Fund
3. Wells Fargo
4. The Bank of Elk River
5. US Bank
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 13th day of January,
2003.
ATTEST:
Stephanie A. Klinzing, Mayor
Sandra A. Peine, City Clerk
S /,4dmin /Resolutions/ 200 3 Resolutions~Depositories