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City of <br /> Peqt AGENDA ITEM #10.2, <br /> Lakes <br /> REPORT TO <br /> CITY COUNCIL <br /> Report by: Sandy Peine, City Clerk <br /> Date: January 6, 2015 <br /> Subject: 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 Lakes State Bank of Pequot <br /> Lakes, American National Bank of Pequot Lakes, and <br /> Wells Fargo. <br /> Council Action Requested: Council motion to adopt <br /> attached resolution appointing Lakes State Bank, American <br /> National Bank, and Wells Fargo as the City's official <br /> depositories for 2015. <br />