HomeMy WebLinkAbout24-037 Resolution Authorizing the 2024 Insurance Policy RenewalsError! Hyperlink reference not valid.
4646 Dakota Street SE Prior Lake, MN 55372
RESOLUTION 24-037
APPROVAL OF THE 2024 INSURANCE POLICY RENEWALS
Motion By: Burkart Second By: Lake
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 02/01/2024 through 02/01/2025; and
WHEREAS, premium costs for the respective coverage are as set forth in the April 9, 2024 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 2024 insurance policy renewals.
3.Staff is authorized to transfer to the internal services Insurance Fund any property/casualty dividendsand work comp retro adjustments received, as determined by the Finance Director.
Passed and adopted by the Prior Lake City Council this 9th day of April 2024.
VOTE Briggs Braid Burkart Churchill Lake
Aye ☐☒☒☐☒
Nay ☐☐☐☐☐
Abstain ☐☐☐☐☐
Absent ☒☐☐☒☐
______________________________
Jason Wedel, City Manager