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<br /> <br />Request for Action <br /> <br /> <br />To Item Number <br /> <br />Economic Development Authority 3.6 <br />Agenda Section Meeting Date Prepared by <br /> <br />Consent AgendaJanuary 20, 2015Jeremy Barnhart, Deputy Director, CODD <br />Item Description Reviewed by <br />Designation of Official Depositories <br />Reviewed by <br /> <br /> <br />Action Requested <br /> <br />Designate the below-referenced banks and institutions as official depositories for the EDA for 2015. <br /> <br />Background/Discussion <br /> <br />As per EDA Bylaws, the designation of official depositories is suggested at the Annual Meeting of the <br />EDA. Historically, the EDA has designated depositories similar to those designated by the City Council. <br />For 2015, the EDA is asked to designate the following banks and institutions as depositories for its funds: <br /> <br /> <br /> <br />First National Bank of Elk River <br /> <br /> <br />4M Fund <br /> <br /> <br />Wells Fargo Bank <br /> <br /> <br />The Bank of Elk River <br /> <br /> <br />US Bank <br /> <br /> <br />TCF Bank <br /> <br />Financial Impact <br /> <br />N/A <br /> <br />Attachments <br /> <br /> <br /> <br />N/A <br /> <br />