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CABARRUS COUNTY <br />* <br />REGULAR MEETING <br />DECEMBER pTxarcA�a�� <br />• 20 <br />��fiiffJfl /�� <br />1 P .M. <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />Finance - Approval of Selection of Depository Pursuant to G.S. 159 -31 (a) <br />and Investment of Idle Funds Pursuant to G.S. 159 -30 (a) <br />BRIEF SUMMARY: <br />As bank mergers and buy outs of smaller banks occur, the County needs <br />to update its list of available depositories and banks with which the County <br />may invest idle cash. Attached is the list of depositories with which the <br />County deposits funds and banks with which the County invest idle funds. <br />Approval of the updated list is requested for Cabarrus County banking and <br />investments needs. <br />REQUESTED ACTION: <br />Motion to approve revised list of depositories and banks as presented. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Pamela S. Dubois, Deputy County Manager /Finance Director <br />BUDGET AMENDMENT REQUIRED: <br />No <br />COUNTY MANAGER'S RECOMMENDATIONS /COMMENTS: <br />This item was approved by the Board for inclusion on the Agenda as a <br />Consent item. <br />F -4 Page 35 <br />