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<br />rt! ~( <br />( if <br />.Yll~ <br />.E ~ River <br /> <br />**CONSENTAGENDA ITEM 7.1.** <br /> <br /> <br />FROM: <br /> <br />MAYOR AND CITY COUNCIL " <br />LORI JOHNSON, FINANCE DIRECTOR~~ <br /> <br />TO: <br /> <br />DATE: DECEMBER 27, 1993 <br /> <br />SUBJECT: RESOLUTION DESIGNATING <br />DEPOSITORIES OF CITY FUNDS <br /> <br />Each year, in accordance with Minnesota Statute 118, the City <br />must designate the depositories which will be used by the <br />City. The attached resolution lists the depositories used by <br />the City of Elk River. The list remains the same as it was in <br />1993. It has also been the City's policy that the City works <br />only with in-state investment brokers who are knowledgeable in <br />Minnesota municipal investment laws. In addition, this year <br />each broker must sign and return a Notification to Broker and <br />Certification by Broker as required by Minnesota Statute 475.66 <br />before the City can invest with that broker. <br /> <br />The Council is asked to adopt the resolution designating the <br />depositories of City funds for 1994. <br /> <br />e <br /> <br />e <br /> <br />P.O. Box 490 · 13065 Orono Parkway · Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425 <br />