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ITEM # 3.5. <br /> • �j <br /> City of ' <br /> River <br /> MEMORANDUM <br /> TO: Economic Development Authority <br /> FROM: Catherine Mehelich, Director of Economic Development <br /> DATE: January 10, 2005 <br /> SUBJECT: Designation of Official Depositories <br /> In the past the EDA has designated depositories similar to those designated by the City <br /> Council. For 2005, the EDA is asked to designate the following banks and institutions as <br /> depositories for its funds: <br /> • First National Bank of Elk River <br /> • • 4M Fund <br /> • Wells Fargo Bank <br /> • The Bank of Elk River <br /> • USBank <br /> • Riverview Community Bank (in Otsego) <br /> Recommendation <br /> Staff recommends designating the above-referenced banks and institutions as official <br /> depositories for the EDA for 2005. <br /> • <br />