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RESOLUTION 12- <br />A RESOLUTION OF THE CITY OF ELK RIVER <br />A RESOLUTION DESIGNATING DEPOSITORIES OF CITY FUNDS <br />WHEREAS, Minnesota Statutes Section 118A.02 sets forth the procedures fox the deposit <br />of public funds and it is necessary fox the Elk River City Council ox city finance director to <br />annually designate a bank (ox banks) as the official depository fox city funds and manage the <br />collateral pledged to such funds. <br />BE IT RESOLVED, by the City Council of the City of Elk River that the following named <br />banks are hereby designated as the city's official depositories fox the funds of the City of Elk <br />River, Minnesota fox 2012: <br />1. First National Bank of Elk River <br />2. 4M Fund <br />3. Wells Fargo <br />4. The Bank of Elk River <br />5. US Bank <br />6. TCF Bank <br />BE IT FURTHER RESOLVED that the city finance director may recommend that <br />additional depositories be designated for purposes of investing funds. <br />Passed and adopted by the City Council of the City of Elk River this 9`h day of January, 2012. <br />John J. Dietz, Mayor <br />ATTEST: <br />Tina Allard, City Clerk <br />N:\Pub6c Bodies\City Council\Council RCA\Annual First Meeting\Depository Resolution.doc <br />