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<br />RESOLUTION NO. 07-_ <br /> <br />A RESOLUTION OF THE CITY OF ELK RIVER <br /> <br />A RESOLUTION DESIGNATING DEPOSITORIES OF CITY FUNDS <br /> <br />WHEREAS, 11innesota Statutes Section 118~\.02 sets fortll tlle procedures for tlle deposit <br />of public funds and it is necessar)t for tlle Elk River City Council or city treasurer to annually <br />designate a bank (or bal1ks) as tlle official depository for city funds and lnanage tlle collateral <br />pledged to SUCll funds. <br /> <br />BE IT RESOLVED, by tlle Cit~y Council of tlle City of Elk River tllat tlle follo\ving named <br />banks are hereby desigtlated as tlle City's official depositories for tlle funds of tlle City! of Elk <br />R..iv'er, l\lulnesota for 2007: <br /> <br />1. First National Bank, of Elk River <br />2. 4rvl Fund <br />3. \X1 ells Fargo <br />4. TIle Bank of Ell( Ri\ter <br />5. LiS Ballk <br />6. R..i'vervie\v Conununity Bank (in Otsego) <br /> <br />BE IT FURTHER RESOLVED tllat tlle city, treasurer Inay recorrunend tllat additional <br />depositories be designated for purposes of in\Testil1g city ful1ds. <br /> <br />Passed and adopted by tlle City! Cotlncil of tlle City of Elk Ri\Ter dlls 2nd day of January, <br />2007. <br /> <br />Stephanie .r\.. I<Jinzing, :tvlayor <br /> <br />~\ TTES1~: <br /> <br />Tina ~"\llard, City Clerk <br /> <br />s: \Resolut.ions \2007\ U napproved\Depositories.doc <br />