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AGENDA ITEM 3C <br />STAFF ORIGINATOR: Mary Alice Divine <br />DATE: 6/23/03 <br />TOPIC: Consideration of Official Depositories <br />Vote Required: <br />BACKGROUND: <br />Simple Majority <br />The list of legal depositories approved for 2003 by the City Council is as follows: <br />Wells Fargo Prudential Bache <br />First Bank, NA Community National Bank <br />US Bank Merrill Lynch <br />Dain Rauscher Solomon, Smith, Barney <br />Lino Lakes State Bank LMC 4M Fund <br />Others as needed <br />These depositories are used for checking, savings and investing city dollars. On <br />occasion the EDA and the city have financial transactions that will require the <br />EDA to have designated legal depositories. <br />RECOMMENDATION: <br />Approve the list of legal depositories. <br />