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AGENDA ITEM 3C <br />STAFF ORIGINATOR: Brian Wessel <br />DATE: 1/24/00 <br />TOPIC: Consideration of Official Depositories <br />Vote Required: Simple Majority <br />BACKGROUND: <br />The list of legal depositories approved for 2000 by the City Council is as follows: <br />Norwest Bank, First Bank NA, Firstar Bank, Merrill Lynch, Dain Bosworth, Juran <br />and Moody, and Prudential Bache, Lino Lakes State Bank, Lakeland National <br />Bank and League of Minnesota Cities 4M Fund. These depositories are used for <br />check, savings and investing city dollars. On occasion the EDA and the city have <br />financial transactions that will require the EDA to have designated legal <br />depositories. <br />OPTIONS: <br />1. Approve the list of legal depositories <br />2. Return to staff for further consideration <br />RECOMMENDATION: <br />Option 1 <br />• <br />