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EGty1� ,.,�� Request for Action <br /> River <br /> To Item Number <br /> Mayor and City Council 4.3 <br /> Agenda Section Meeting Date Prepared by <br /> ConsentJanuary 6, 2020 Tina Allard, City Clerk <br /> Item Description Reviewed by <br /> Designate Official Depositories and Delegate Cal Portner, City Administrator <br /> Authority for Electronic Funds Transfers Reviewed by <br /> Action Requested <br /> Adopt,by motion, a resolution authorizing the city's official depositories for 2020 and delegate authority <br /> for electronic funds transfers. <br /> Background/Discussion <br /> City code and state law require the city to annually designate official depositories for the deposit of funds <br /> and delegate authority to make electronic funds transfers. <br /> The attached resolution outlines the depositories to be used for these purposes and delegates authority <br /> for electronic funds transfers. <br /> Financial Impact <br /> N/A <br /> Attachments <br /> ■ Resolution <br /> The Elk River Vision <br /> A wehoMing community withrevolutionary and spirited resourcefulness, exceptional POWERED By <br /> service, and community engagement that encourages and inspires prosperity INAWRE1 <br />