HomeMy WebLinkAbout18-047 2018 Insurance Policies with LMCIT
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 18-047
A RESOLUTION AUTHORIZING THE 2018 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 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 02/01/201 8 through 02/01/2019; and
WHEREAS, Premium costs for the respective coverage are as set forth in the April 2nd, 2018 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 costs of the 2018 insurance policy renewals as set forth in the
4/02/2018 agenda report.
3. Staff is authorized to transfer to the internal services Insurance Fund any property/casualty dividends
and work comp retro adjustments received.
PASSED AND ADOPTED THIS 2nd DAY OF APRIL 2018
VOTE Briggs McGuire Thompson Burkart Braid
Aye ☒ ☒ ☒ ☒ ☒
Nay ☐ ☐ ☐ ☐ ☐
Abstain ☐ ☐ ☐ ☐ ☐
Absent ☐ ☐ ☐ ☐ ☐
Frank Boyles, City Manager