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RESOLUTION 09- <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 for the deposit <br />of public funds and it is necessary for the Elk River City Council or Ciry treasurer 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 />BE IT RESOLVED, by the City Council of the City of Elk River that the following named <br />banks are hereby designated as the Ciry's official depositories for the funds of the Ciry of Elk <br />River, Minnesota for 2009: <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. Riverview Community Bank (in Otsego) <br />7. TCF Bank <br />BE IT FURTHER RESOLVED that the Ciry finance director may recommend that <br />additional depositories be designated for purposes of investing funds. <br />Passed and adopted by the Ciry Council of the City of Elk River this 5`'' day of January, 2009. <br />Stephanie A. Klinzing, Mayor <br />ATTEST: <br />Tina Allard, City Clerk <br />