5.1. SR 1-08-1996TO:
FROM:
DATE:
SUBJECT:
**ITEM 5.1. **
MEMORANDU~
Mayor & City Council ~
Lori Johnson, Asst. City Administrator
January 8, 1996
Official Depositories
Minnesota Statute 118 requires that each city designate an official depository
or depositories for the deposit of its funds. The attached resolution outlines
the depositories to be used for that purpose. The depositories remain the
same as in past years.
Action Requested
The City Council is asked to approve the attached resolution authorizing the
city's official depositories for 1996.
13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425
RESOLUTION 96 -
A RESOLUTION FOR TIlE 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:
2.
3.
4.
5.
6.
The Bank of Elk River
First National Bank of Elk River
4M Fund
Norwest Bank
First Banks
Marquette 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 8th day of January,
1996.
ATTEST:
Henry A. Duitsman, Mayor
Sandra A. Thackeray, City Clerk
document/resol: deposit