HomeMy WebLinkAbout17-038 2017 Insurance Policies with LMCIT
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 17-038
A RESOLUTION AUTHORIZING THE 2017 INSURANCE POLICY RENEWALS
Motion By: McGuire Second By: Braid
WHEREAS, The City of Prior Lake participates in the League of Minnesota Cities Insurance
Trust (LMCIT) for securing liability, property, casualty, automobile, employee
faithful performance (bond), open meeting law defense, equipment breakdown and
worker’s compensation insurance coverage; and
WHEREAS,
The insurance renewal period is 02/01/2017 through 02/01/2018; and
WHEREAS, Premium costs for the respective coverage are as set forth in the April 10, 2017
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 2017 insurance policy renewals as presented in the
April 10, 2017 report.
3. Staff is authorized to transfer to the internal services Insurance Fund at year-end 2017 any
property/casualty dividends and work comp retro adjustments received.
PASSED AND ADOPTED THIS 10th DAY OF APRIL 2017
VOTE Briggs McGuire Thompson Burkart Braid
Aye ☒ ☒ ☒ ☒ ☒
Nay ☐ ☐ ☐ ☐ ☐
Abstain ☐ ☐ ☐ ☐ ☐
Absent ☐ ☐ ☐ ☐ ☐
Frank Boyles, City Manager