HomeMy WebLinkAboutResolution 26-063 - Authorizing the Opening of Municipal Cannabis Fund Bank Account, and Designating the Bank of Elk River as an Official Depository of the CityCITY OF SAINT ANTHONY VILLAGE
RESOLUTION 26-063
A RESOLUTION AUTHORIZING THE OPENING OF MUNICIPAL CANNABIS FUND
BANK ACCOUNT, AND DESIGNATING THE BANK OF ELK RIVER AS AN
OFFICIAL DEPOSITORY OF THE CITY
WHEREAS, the City Council of the City of Saint Anthony Village established a dedicated
fund to track and manage the financial operations of municipal cannabis
activities; and
WHEREAS, to facilitate the financial transactions and day-to-day operations of the Municipal
Cannabis Fund, it is necessary to establish an affiliated bank account and
designate an official public depository.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Saint
Anthony Village, Minnesota, approves:
I. AUTHORIZATION OF BANK ACCOUNT
The Finance Director of the City is hereby authorized and directed to open, maintain, and
close one or more banking or investment account(s) on behalf of the City with The Bank
of Elk River.
2. DESIGNATION OF OFFICIAL DEPOSITORY
The Bank of Elk River is hereby designated as an official depository of the City of Saint
Anthony Village for the deposit of public funds belonging to the Municipal Cannabis
Enterprise Fund.
3. AUTHORIZED SIGNERS AND SIGNING AUTHORITY
The Finance Director, the City Manager, and the Mayor, are designated as authorized
signers. They are fully empowered to execute signature cards, deposit agreements, and
other necessary documents required by The Bank of Elk River to establish, manage, and
operate the account.
Approved this 22nd day of September, 2026.
Wendy ebster, Mayor
ATTEST:
Nicole DeDeyn, Cit Jerk
Review for Administration:
Charlie Yunker, City Manager