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AGENDA ITEM 3 A. <br />STAFF MEMBER Daniel Tesch, Director of Administration• <br />DATE 19 January 1999 <br />SUBJECT Legal Depository <br />VOTE REQUIRED Simple Majority <br />BACKGROUND <br />- Lakeland National Bank is the latest addition to the city's list of financial institutions. <br />As such, we would recommend they be added to our list of official depositories. The addition of <br />Lakeland National to this list simply means that should the city decide to enter into financial <br />transactions with this bank, we would be able to do so. <br />A Request for Proposals for banking services will be prepared later this year. <br />OPTIONS <br />1. Add Lakeland National Bank to the list of official depositories. <br />2. Do not add the bank to our list of official depositories. <br />RECOMMENDATION <br />1. <br />