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<br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION NO. 06-01 <br /> <br />A RESOLUTION OF THE CITY OF ELK RIVER <br /> <br />A RESOLUTION DESIGNATING DEPOSITORIES OF CITY FUNDS <br /> <br />WHEREAS, Minnesota Statutes Section 118 sets forth the procedures for the <br />deposit of public funds and it is necessary for the Elk River City Councilor <br />city treasurer to annually designate a bank (or banks) as the official <br />depository for city funds and manage the collateral pledged to such <br />funds. <br /> <br />BE IT RESOLVED, by the City Council of the City of Elk River that the <br />following named banks are hereby designated as the City's official <br />depositories for the funds of the City of Elk River, Minnesota for 2006: <br /> <br />1. <br />2. <br />3. <br />4. <br />5. <br />6. <br /> <br />First National Bank of Elk River <br />4M Fund <br />Wells Fargo <br />The Bank of Elk River <br />US Bank <br />Riverview Community Bank (in Otsego) <br /> <br />BE IT FURTHER RESOLVED that the city treasurer may recommend that <br />additional depositories be designated for purposes of investing city funds. <br /> <br />Passed and adopted by the City Council of the City of Elk River this 9th day <br />of January, 2006. <br /> <br /> <br />ATIEST: <br /> <br />.~J~ <br /> <br />n Schmidt, City Clerk <br /> <br /> <br />2006-01 <br />