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9 Item Description: Designation of Official an Depositories for 2008 <br />1.0 <br />11 <br />12 Background <br />13 State Statute reqw'res the City to designate official barik depositories for which city funds may be <br />14 deposited and held for safekeeping. <br />15 <br />16 The attached resolution lists those institutions that will be used for various banking services. The <br />17 institutions are selected on a bid basis. <br />is <br />19 Staff Recommendation <br />20 Staff recomi-nends approval of the attached resolution. <br />21 <br />22 Council Action Requested <br />23 Adopt the attached resolution designating the official an depositories for 2008. <br />0 <br />