3.7. EDSR 01-08-2007ITEM # 3.7.
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MEMORANDUM
TO: Economic Development Authority
FROM: Catherine Mehelich, Director of Economic Development~`~_
DATE: January 8, 2007
SUBJECT: Designation of Official Depositories
In the past the EDA has designated depositories similar to those designated by the City
Council. For 2007, 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
• USBank
• Riverview Community Bank (in Otsego)
Recommendation
Staff recommends designating the above-referenced banks and institutions as official
depositories for the EDA for 2007.