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Department Approval <br />��. �#: ,� <br />Item Description <br />f� � <br />� <br />REQUEST FOR COUNCIL ACTION <br />Designate Official Bank Depositories for 2014 <br />Date: 1/06/14 <br />Item No.: 7.d <br />Citv Mana�er Approval <br />��� •��C.�. <br />� <br />BACKGROUND <br />State Statute requires the City to designate official bank depositories for which ciry funds may be <br />deposited and held for safekeeping. <br />The attached resolution lists those institutions that will be used for various banking services. The <br />institutions are selected on a bid basis. <br />POLICY �BJECTIVE <br />The designation of official bank depositories is required under State Statute. <br />FINANCIAL IMPACTS <br />Not applicable. <br />STAFF RECOMMENDATION <br />Staff recommends approval of the attached resolution. <br />REQUESTED COUNCIL ACTION <br />Adopt the attached resolution designating the official bank depositories for 2014. <br />Prepared by: Chris Miller, Finance Director <br />Attachments: A: Resolution designating the official depositories for 2014 <br />Page 1 of 3 <br />