Laserfiche WebLink
Minnesota Statutes Sec. 118.01 requires, in its various subdivisions, <br />approval of collateral and collateral transactions by the governing body <br />or its designee. The City Council has not officially delegated this <br />responsibility nor do they approve collateral transactions. <br />Further, for the items not tested, based on our examination e:. the proce- <br />dures referred to above, nothing came to our attention to indicate that the <br />City had not complied with such legal provisions. <br />This report is intended solely for the use of the City of Orono, the (;.,x;nizant <br />audit agency, and other federal and state audit agencies, and shoula not be used <br />for any other purpose. This restriction is not intended to limi, the distrib- <br />tion of this report, which is a matter of public record. <br />May 28, 1986 <br />i <br />Certified Public Accountants <br />- 64 - <br />