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5.d) Approve Official Depositories Meeting Date: 1/19/2010 Agenda Item: � � City Council Agenda Report City of Scandia 14727 209`h St. North Scandia, MN 55073 (651)433-2274 Action Requested: Approve official depositories for banking and investment purposes for 2010 (Resolution O 1-19-10-01) Deadline/Timeline: At the annual meeting, within 30 days of start of fiscal year(January 1.) Background: • Cities must designate official depositories by resolution. • Treasurer Colleen Firkus has recommended that the following depositories be designated: • Security State Bank of Marine � Mainstreet Bank • 4M Fund, League of Minnesota Cities • These are the same depositories designated in 2009. Recommendation: I recommend that the Council adopt the resolution. Attachments/ • Draft resolution Materials provided: Contact(s): Colleen Firkus, Treasurer Prepared by: Anne Hurlburt, Administrator (depositories) Page 1 of 1 O1/12/10 CITY OF SCANDIA RESOLUTION NO. O1-19-10-01 RESOLUTION DESIGNATING OFFICIAL DEPOSITORIES FOR 2010 WHEREAS, State Statutes require that the City designate depositories for City monies; NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF SCANDIA, WASHINGTON COUNTY, MINNESOTA, that it should and hereby does designate the following as official depositories for the City of Scandia for 2010: Security State Bank of Marine Mainstreet Bank 4M Fund of the League of Minnesota Cities Adopted by the Scandia City Council this 19th day of January, 2010. Dennis D. Seefeldt, Mayor ATTEST: City Clerk/Administrator �� �a-c.�� S- �J � CITY OF SCANDIA RESOLUTION NO. O1-19-10-01 RESOLUTION DESIGNATING OFFICIAL DEPOSITORIES FOR 2010 WHEREAS, State Statutes require that the City designate depositories for City monies; NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF SCANDIA, WASHINGTON COUNTY, MINNESOTA, that it should and hereby does designate the following as official depositories for the City of Scandia for 2010: Security State Bank of Marine *Lake Area Bank* (replaces Main Street Bank,which no longer exists) 4M Fund of the League of Minnesota Cities Adopted by the Scandia City Council this 19th day of January, 2010. Dennis D. Seefeldt, Mayor AT'TEST: City Clerk/Administrator