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HomeMy WebLinkAbout11-145 2012 LMCIT Insurance Waiver 4646 Dakota Street SE Prior Lake, MN 55372 RESOLUTION 1 1 - xxx A RESOLUTION ELECTING THE NON WAIVER OF STATUTORY MUNICIPAL TORT LIABILITY LIMITS AND DECLINING EXCESS LIABILITY INSURANCE COVERAGE Motion By: Erickson Second By: Soukup WHEREAS, Minnesota Statutes 466.04 imposes limits on municipal tort liability; and WHEREAS, The City of Prior Lake has the option to waive the protection of statutorily imposed limits on what a claimant can recover in a tort liability action: and WHEREAS, The League of Minnesota Cities Insurance Trust offers municipalities the option to purchase excess liability insurance; and WHEREAS, The Prior Lake City Council has evaluated whether to waive the limit on tort liability and whether to purchase excess liability coverage for non - tort claims; and WHEREAS, The City of Prior Lake has historically exhibited relatively low claims experience . NOW THEREFORE , BE IT HEREBY RESOLVE D BY THE CITY COUNCI L OF PRIOR LAKE, MINNESOTA that the City of Prior Lake hereby exercises the following elections with respect to the available LMCIT insurance options: The City of Prior Lake DOES NOT WAIVE the monetary limits on municipal tort X liability established by Minnesota Statutes 466.04 effective for 201 2 policy year. The City of Prior Lake declines excess liability coverage effective for X 201 2 policy year. PASSED AND ADOPTED THIS 19 th DAY OF DECEMBER , 201 1 . YES NO Myser X Myser Erickson X Erickson Hedberg X Hedberg Keeney X Keeney Soukup X Soukup ______________________________ Frank Boyles, City Manager