HomeMy WebLinkAbout23-030 2023 Insurance Policy Renewals
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 23-30
RESOLUTION APPROVING THE 2023 INSURANCE POLICY RENEWALS
Motion By: Braid Second By: Churchill
WHEREAS,
WHEREAS,
WHEREAS,
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
the insurance renewal period is 02/01/2023 through 02/01/2024; and
premium costs for the respective coverage are as set forth in the March 6, 2023,
agenda report; and
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 2023 insurance policy renewals.
3. Staff is authorized to transfer to the internal services Insurance Fund at year-end 2023 any
property/casualty dividends and work comp retro adjustments received.
4. The Water and Sewer Fund budgets will be adjusted to reflect the No Fault Sewer Backup
2023 premium of $12,193 which is split 50/50 between the Water Fund and Sewer Fund.
Passed and adopted by the Prior Lake City Council this 6th day of March 2023.
VOTE Briggs Braid Burkart Churchill Lake
Aye ☒ ☒ ☒ ☒ ☒
Nay ☐ ☐ ☐ ☐ ☐
Abstain ☐ ☐ ☐ ☐ ☐
Absent ☐ ☐ ☐ ☐ ☐
______________________________
Jason Wedel, City Manager