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City of <br /> AGENDA ITEM #10.2 <br /> Pc not <br /> Lakes= <br /> REPORT TO <br /> CITY COUNCIL <br /> Report by: Nancy Malecha <br /> Date: January 5, 2016 <br /> Subiect: Annual 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, American National Bank of Pequot Lakes, <br /> and Wells Fargo Bank. <br /> Council Action Requested: Council motion to adopt <br /> attached resolution appointing First National Bank, <br /> American National Bank, and Wells Fargo Bank as the <br /> City's official depositories for 2016. <br />