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City of <br />Pequot <br />Lakes = <br />AGENDA ITEM #3.6 <br />REPORT TO <br />CITY COUNCIL <br />Report Prepared by: Nancy Malecha <br />Date: July 2, 2013 <br />Subiect: Library Endowment CDs Interest <br />Report: The Library Board is requesting that future <br />interest earned on the following Library Endowment CDs <br />be mailed to the City as a check on a monthly or quarterly <br />basis. The interest will be used for daily operating <br />expenses. <br />• CD 5006404 at American National Bank <br />• CD 22128 at Lakes State Bank <br />• CD 22467 at Lakes State Bank <br />Council Action Reauested: Council motion authorizing <br />American National Bank and Lakes State Bank to mail <br />future interest checks to the City for Library CDs 5006404, <br />22128, and 22467. <br />