RES 10-01i i ~ ~~
L i i i
~ ~ Ti iT i i
WHEREAS, Minnesota Statutes Section 1 ~ 8A.02 sets Earth the procedures for the deposit
of public funds and it is necessary far the Elk River City Council or City Finance Director to
annually designate a bank ~or ba~.ks} as the of~.cial depositary for City funds and manage the
collateral pledged to such funds.
BE TT RESLVEI~, by the City Council of the City of Elk River that the following named
banks are hereby designated as the City's official depositories far the funds of the City of Ells
River, Mi~inesota for 2010;
~. First National Bank of Elk River
2, 4Nl Fund
3. wells Fargo
4. The Bank of Elk River
5. US Bank
G, TCF Bank
B]E IT FUR'T'HER RESQI,V'E~ that the City finance director may reco~m..~nend that
additional depositaries be designated far purposes of westing funds.
Passed and adopted by the City Council of the City of Elk River this 4~' day of January, 2010.
~._
~f 1
1,
Ste anie A. l~li~a.zin ayo
ATTEST;
._.. ..-
Tina .A.llard, City Clerk
S,~Administratio~~Council RCA`Annual First Meeting~Depasfrory Resolu~ion.doc