HomeMy WebLinkAboutcc 1-15-13 Designate Official DepositoriesMAYOR AND COUNCIL COMMUNICATION
DATE: 1/15/2013
CONSENT
ITEM #: 7
MOTION Consent Agenda
AGENDA ITEM: Designation of Official Depository of Funds for 2013
SUBMITTED BY: Cathy Bendel, Finance Director
REVIEWED BY: Dean Zuleger, City Administrator
SUMMARY AND ACTION REQUESTED: Pursuant to State Statute 412.121, the City Council is
respectfully being asked to designate official depositories for 2013.
BACKGROUND INFORMATION: Based upon past practice as well as current and likely future
needs, it is recommended that the following be designated as the official depositories for the City of Lake
Elmo for 2013:
• Lake Elmo Bank
• Well Fargo Bank
• Northland Securities
• Morgan Stanley Smith Barney LLC
RECOMMENDATION: It is recommended that the City Council designate official depositories for
2013 by the following action:
“Move to designate Lake Elmo Bank, Wells Fargo Bank, Northland Securities and Morgan Stanley
Smith Barney LLC as the official depositories for the City of Lake Elmo for 2013”
.