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City of (; <br />Pequotll <br />I <br />Lakes <br />AGENDA ITEM #3.10 <br />REPORT TO CITY COUNCIL <br />Report Prepared b, : Trace Gustafson <br />Date: January 2, 2024 <br />Subject: Designation of Official Depositories <br />Report: State Statute requires municipalities to select official depositories for <br />city funds on an annual basis. The City's current depositories are First National <br />Bank of Pequot Lakes and Wells Fargo Bank. <br />Council Action Requested: Council motion adopting the attached resolution <br />appointing official depositories for 2024. <br />