3.7. EDSR 01-12-2009ITEM ~ 3.7.
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MEMORANDUM
TO: Economic Development Authority
FROM: Catherine Mehelich, Director of Economic Development
DATE: January 12, 2009
SUBJECT: Designation of Official Depositories
In the past the EDA has designated depositories similar to those designated by the City
Council. For 2009, 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)
• TCF Bank
Recommendation
Staff recommends the EDA designate the above-referenced banks and institutions as official
depositories for the EDA for 2009.