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HomeMy WebLinkAbout13-060 2013 Insurance Policies Renewals 4646 Dakota Street SE Prior Lake, MN 55372 RESOLUTION 13-060 A RESOLUTION AUTHORIZING THE 2013 INSURANCE POLICY RENEWALS Motion By: Morton Second By: Soukup WHEREAS, The City of Prior Lake participates in the League of Minnesota Cities Insurance Trust (LMCIT) for the purpose of securing its liability, property, casualty, automobile, employee faithful performance (bond), open meeting law defense and workers compensation insurance coverage; and WHEREAS, The insurance renewal period is 02/01/2013 through 02/01/2014; and WHEREAS, The insurance includes a $10,000/$40,000/$1,000 deductible amount for liability coverage; and NOWTHEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE, MINNESOTA as follows: 1.The recitals set forth above are incorporated herein. 2.The City Council hereby approves the 2013 insurance policy renewals at a premium cost of $217,796 for property and casualty and $149,898 for workers compensation. PASSED AND ADOPTED THIS 28th DAY OF MAY 2013. YES NO Hedberg x Hedberg Keeney X Keeney McGuire X McGuire Morton X Morton Soukup X Soukup ______________________________ Frank Boyles, City Manager