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CITY OF LAKE ELMO <br />WASHINGTON COUNTY, MINNESOTA <br />RESOLUTION 2005-146 <br />A RESOLUTION ESTABLISHING A DEPOSITORY ACCOUNT <br />FOR GRANT FUNDS <br />WHEREAS, the City of Lake Elmo has received a grant from the 3M Company <br />for the installation of water service to residents in the Tablyn Park/Lake Elmo <br />Heights /31" Street areas, <br />WHEREAS, the 3M Company has requested the City to set up accounting <br />procedures to track funds and expenditures, <br />WHEREAS, as part of the accounting procedures a separate depository account is <br />requested for the purposes of receiving Grant Funds <br />WHEREAS, the Lake Elmo City Council designates a separate depository <br />account be established with the Lake Elmo Bank for the sole purpose of receiving Grant <br />Funds and transferring such. funds to the City's Checking Account for payment of <br />expenditures towards the specified water project. <br />NOW, THEREFORE, BE IT FURTHER RESOLVED, that Martin Rafferty, City <br />Administrator and Thomas Bouthilet, Finance Director be Authorized Signatures on this <br />Account. <br />ADOPTED, by the Lake Elmo City Council on this 20'h day of December 2005.-----, <br />Dean Johnston, Mayor <br />