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CITY OF LAKE ELMO <br />WASHINGTON COUNTY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION 2025-001 <br /> <br />A RESOLUTION TO DESIGNATE THE OFFICIAL DEPOSITORIES OF <br />FUNDS FOR 2025 <br /> <br />WHEREAS, Minnesota Statutes, Chapter 427, requires the adoption of certain policies <br />and procedures pertaining to the deposit of public funds; and <br /> <br />WHEREAS, the statute also requires the designation of an official depository of funds by <br />a local government each year within 30 days of the beginning of the fiscal year. <br /> <br />NOW THEREFORE BE IT RESOLVED, by the City Council of the City of Lake Elmo, <br />that the following financial institutions are hereby designated as the Official Depositories of Funds <br />for 2025: <br />• Lake Elmo Bank <br />• First Resource Bank <br />• US Bank NA <br />• Wells Fargo Bank <br />• 4M Fund <br />• PMA Securities, Inc. <br />• PMA Financial Network, Inc. <br />• Wells Fargo Advisors <br />• Wells Fargo Securities <br />• Northland Securities Inc. <br />• Platinum Bank <br />ADOPTED BY THE CITY COUNCIL OF THE CITY OF LAKE ELMO THIS <br />7th DAY OF JANUARY 2025. <br /> <br /> <br />CITY COUNCIL <br />CITY OF LAKE ELMO <br /> <br /> <br />By: _ <br />Charles Cadenhead <br />Mayor <br />ATTEST: <br /> <br /> Julie Johnson <br />City Clerk