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Department Approval: <br />�� � �� <br />REQUEST FOR COUNCIL ACTION <br />Manager Approved: <br />Item Description: Designation of Official Bank Depositories for 2005 <br />Date: 1/10/Z005 <br />Item No: 3,� <br />Agenda Section: <br />consent <br />Background <br />State Statute requires the City to designate official bank depositories for which city funds may be <br />deposited and held for safekeeping. <br />The attached resolution lists those institutions that will be used for various banl�ing services. The <br />institutions are selected on a bid basis. <br />Staff Recommendation <br />Staff recommends approval of the attached resolution. <br />Council Action Requested <br />Adopt the attached resolution designating the official bank depositories for 2005. <br />