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Department Approval <br />��. .�: �� <br />Item Description: <br />���� <br />J�, <br />REQUEST FOR COUNCIL ACTION <br />Date: 1 /04/ 10 <br />Item No.: 7.c <br />City Manager Approval <br />� / <br />Adopt a Resolution for Designation of Official Bank Depositories for 2010 <br />BACKGROUND <br />State Statute requires the City to designate official bank depositories for which city funds may be deposited <br />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 OBJECTIVE <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 2010. <br />Prepared by: Chris Miller, Finance Director <br />Attachments: A: Resolution designating the official depositories for 2010 <br />Page 1 of 3 <br />