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RESOLUTION 13- 01 <br /> • A RESOLUTION OF THE CITY OF ELK RIVER <br /> A RESOLUTION DESIGNATING DEPOSITORIES OF CITY FUNDS <br /> WHEREAS,Minnesota Statutes Section 118A.02 sets forth the procedures for the deposit <br /> of public funds and it is necessary for the Elk River City Council or city finance director to <br /> annually designate a bank(or banks) as the official depository for city funds and manage the <br /> collateral pledged to such funds. <br /> BE IT RESOLVED,by the City Council of the City of Elk River that the following named <br /> banks are hereby designated as the city's official depositories for the funds of the City of Elk <br /> River,Minnesota for 2013: <br /> 1. First National Bank of Elk River <br /> 2. 4M Fund <br /> 3. Wells Fargo <br /> 4. The Bank of Elk River <br /> 5. US Bank <br /> 6. TCF Bank <br /> BE IT FURTHER RESOLVED that the city finance director may recommend that <br /> • additional depositories be designated for purposes of investing funds. <br /> Passed and adopted by the City Council of the City of Elk River this 7th day of January, 2013. <br /> J ,n J. ietz, <br /> ATTEST: <br /> Tina Allard, City Clerk <br /> • <br /> N:\Public Bodies\City Council\Council RCA\Annual First Meeting\Depository Resolution.doc <br />