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Council Member O'Donnell introduced the following resolution and moved its adoption: CITY OF LINO LAKES RESOLUTION NO. 01-109 RESOLUTION TO ACCEPT A PROPOSAL FOR BANKING SERVICES FROM LINO LAKES STATE BANK WHEREAS, the Lino Lakes City Council currently utilizes Firstar Bank for its main depository, checking account and day-to-day services; and, WHEREAS, the City Council is desirous of obtaining information from area banks with the intent of obtaining the best possible array of banking services at the lowest reasonable costs; and, WHEREAS, the city staff issued Requests for Proposals for Banking Services (RFPs) to area banks to obtain such information, including financial data of the institution, services available and estimated costs; and, WHEREAS, staff has received and evaluated replies from the area banks receiving RFPs from the City; and, WHEREAS, staff recommends Lino Lakes State Bank as the institution which best fits the needs of the City at the present time. THEREFORE, BE IT RESOLVED by the City Council of the City of Lino Lakes that: 1. City of Lino Lakes accepts the proposal for banking services from Lino Lakes State along with all the terms and conditions listed in the Request for Proposal, attached as Exhibit A. 2. Such designation shall continue for a three-year period commencing September 1, 2001, or as soon thereafter as practicable, through December 31, 2004, with the ability of the City Council to extend such term for an additional three years. ADOPTED by the Lino Lakes City Council this 23rd day of July, 2001. er1 Deputy City John J. Bergeson, Mayor The motion for adoption of the foregoing resolution was duly seconded by Council Member Carlson and upon vote being taken thereon, the following voted in favor thereof: Bergeson, Carlson, Dahl, Reinert and O'Donnell The following voted against same: None. Whereupon said resolution was duly passed and adopted.