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Owatonna board designates Old National Bank for district deposits and investments
Summary
The ISD 761 School Board approved two separate motions to designate Old National Bank as a depository for payroll and other district revenues and to authorize it to invest district assets within state and federal guidelines.
The Independent School District 761 School Board voted on Sept. 22, 2025, to designate Old National Bank as an authorized depository for district funds needed to meet payrolls, activity account moneys and general accounts, and separately authorized Old National Bank to be authorized to invest district assets within state and federal guidelines. Both motions passed with unanimous AYE votes.
The motions were made by Elizabeth Hedlund (depository) and Elizabeth Hedlund (investments) with second by Timothy Jensen on each; the minutes do not record specific investment policies, limits or dollar amounts in the public meeting minutes.
