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City of <br /> 41. AGENDA ITEM #10.2 <br /> Pe not <br /> Lakes—_-_-_-_-_–_ <br /> REPORT TO <br /> CITY COUNCIL <br /> Report by: Nancy Malecha <br /> Date: January 3, 2017 <br /> Subject: Designation of Official Depositories <br /> Report: State Statute requires municipalities to select <br /> official depositories for city funds on an annual basis. The <br /> City's current depositories are First National Bank of <br /> Pequot Lakes and Wells Fargo Bank. <br /> Council Action Requested: Council motion adopting the <br /> attached resolution appointing First National Bank and <br /> Wells Fargo Bank as the City's official depositories for <br /> 2017. <br />