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City of <br /> Elk <br /> River <br /> Resolution 15- <br /> A Resolution of the City of Elk River Designating Depositories of City Funds <br /> WHEREAS, Minnesota Statutes Section 118A.02 sets forth the procedures for the deposit <br /> of public funds and it is necessary for the Elk River City Council or city finance director to <br /> annually designate a bank (or banks) as the official depository for city funds and manage the <br /> collateral pledged to such funds. <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk <br /> River,Minnesota, that the following named banks are hereby designated as the city's official <br /> depositories for the funds of the City of Elk River,Minnesota for 2015: <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 /> 7. UBS <br /> BE IT FUTHER RESOLVED the city finance director may recommend that additional <br /> depositories be designated for purposes of investing funds. <br /> Passed and adopted this 5"'day of January 2015. <br /> John J. Dietz,Mayor <br /> ATTEST: <br /> Tina Allard, City Clerk <br /> P O w E R E U 9 1 <br /> 1`4 U <br />