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EDA Agenda Memo Page 2 <br /> January 8, 1996 <br /> • D) Official Depositories-Past practice for this item has been for <br /> the EDA to designate the same depositories that are used by the <br /> City of Elk River. For 1996, the City of Elk River will designate <br /> the following banks/institutions as depositories for its funds: <br /> • The Bank of Elk River <br /> • First National Bank of Elk River <br /> • 4 M Fund <br /> • Norwest Bank <br /> • First Bank, N.A. <br /> • Marquette Bank <br /> Following past practice, it is in order to designate the above- <br /> referenced banks/institutions as official depositories for EDA <br /> funds in 1996. <br /> E) Consider Committee Appointments/Assignments The EDA <br /> maintains three committees: a) Finance, b) Marketing, and <br /> c) Research and Development. Membership on the respective <br /> committees can be found on a separate attachment in the <br /> agenda packet. Past practice has been to reappoint the same <br /> • persons to these committees assuming that the members desire <br /> to remain and serve in an as-needed capacity. <br /> At the EDA's 1995 annual meeting, Commissioners agreed to <br /> advertise their committee appointments in an effort,to solicit <br /> and recruit new volunteers from the community. This desire <br /> was reaffirmed at the EDA meeting of October 9, 1995. At that <br /> meeting, Commissioners authorized the Executive Director to <br /> place ads in the Elk River Star News. A subsequent notice was <br /> placed in the city's newsletter, The Current. This resulted in the <br /> solicitation of one prospective candidate, Mr. Steven Foster, <br /> 21414 Vernon Street NW. He desires an appointment to the <br /> Finance Committee. <br /> This topic was also discussed at the EDA's December meeting. <br /> Commissioner Dwyer pointed out that the by-laws are silent <br /> with respect to the number of members each EDA committee <br /> may possess. As a result, it was suggested that the Finance <br /> Committee be expanded to six members to accommodate Mr. <br /> Foster's interest in serving. No action was taken on this matter <br /> and it now is a carry-over item for the January meeting. <br /> • Another issue relates to that of establishing definitive terms of <br />