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<br />Request for Action <br /> <br /> <br /> <br /> <br /> <br />To Item Number <br />Mayor and City Council 5.4 <br />Agenda Section Meeting Date Prepared by <br />Consent January 4, 2021 Tina Allard, City Clerk <br />Item Description Reviewed by <br />Declare Official Depositories and Delegate Lori Ziemer, Finance Director <br />Authority for Electronic Funds Transfer <br />Reviewed by <br />Cal Portner City Administrator <br /> <br />Action Requested <br />Adopt, by motion, a resolution authorizing the city’s official depositories for 2021 and delegate authority for <br />electronic funds transfers. <br /> <br />Background/Discussion <br />City code and state law require the city to designate official depositories for the deposit of funds and delegate <br />authority to make electronic funds transfers. <br /> <br />Financial Impact <br />N/A <br /> <br />Mission/Policy/Goal <br />Elk River Municipal Mission Components: Responsible for every dollar – good stewards <br /> <br />Attachments <br /> Resolution <br /> <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br /> <br />service, and community engagement that encourages and inspires prosperity. <br /> Updated: August 2020 <br />