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CITY OF LAKE ELMO <br />WASHINGTON COUNTY <br />STATE OF MINNESOTA <br />RESOLUTION 2026 - 001 <br />A RESOLUTION TO DESIGNATE THE OFFICIAL DEPOSITORIES OF <br />FUNDS FOR 2026 <br />WHEREAS, Minnesota Statutes, Chapter 427, requires the adoption of certain policies <br />and procedures pertaining to the deposit of public funds; and <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 />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 2026: <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 />6th DAY OF JANUARY 2026. <br />CITY COUNCIL <br />CITY OF LAKE ELMO <br />By: <br />Charles Cadenhead <br />Mayor <br />ATTEST: <br />______________________________ <br />Clerk