3.7. HRSR 01-05-09ITEM # 3.7.
MEMORANDUM
TO: Housing & Redevelopment Authority
FROM: Catherine Mehelich, Director of Economic Developmen~~%/
DATE: January 5, 2009
SUBJECT: Designation of Official Depositories
In the past the HRA has designated depositories similar to those designated by the City
Council. For 2009, the HRA 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 the HRA designate the above-referenced banks and institutions as official
depositories for the HRA for 2009.