HomeMy WebLinkAbout16-043 2016 Insurance Policies with LMCIT
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 16-043
A RESOLUTION AUTHORIZING THE 2016 INSURANCE POLICY RENEWALS
Motion By: McGuire Second By: Thompson
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, equipment breakdown and workers
compensation insurance coverage; and
WHEREAS,
WHEREAS,
The insurance renewal period is 02/01/201 6 through 02/01/2017; and
Premium costs for the respective coverage are as set forth in the April 11, 2016 agenda report;
and
WHEREAS, The insurance includes a $25,000/$50,000/$1,000 deductible amount for liability coverage.
NOW THEREFORE, 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 2016 insurance policy renewals.
3. Staff is authorized to create an internal services Insurance Fund at year-end 2016 with any remaining
balances in the insurance accounts (51477, 53610 -30) and any dividends received.
PASSED AND ADOPTED THIS 11th DAY OF APRIL 2016
VOTE Hedberg Keeney McGuire Morton Thompson
Aye ☒ ☒ ☒ ☒ ☒
Nay ☐ ☐ ☐ ☐ ☐
Abstain ☐ ☐ ☐ ☐ ☐
Absent ☐ ☐ ☐ ☐ ☐
Frank Boyles, City Manager