HomeMy WebLinkAbout25-046 Resolution Authorizing the 2025 Insurance Policy Renewals
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4646 Dakota Street SE Prior Lake, MN 55372
RESOLUTION 25-046 RESOLUTION AUTHORIZING 2025 INSURANCE RENEWALS Motion By: Lake Second By: Hellier
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 02/01/2025 through 02/01/2026; and WHEREAS, premium costs for the respective coverage are as set forth in the March 25, 2025 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 2025 insurance policy renewals.
3. Staff is authorized to transfer to the internal services Insurance Fund any property/casualty dividends and work comp retro adjustments received, as determined by the Finance Director. Passed and adopted by the Prior Lake City Council this 8th day of April 2025.
VOTE Briggs Braid Churchill Lake Hellier Aye ☒ ☒ ☒ ☒ ☒
Nay ☐ ☐ ☐ ☐ ☐
Abstain ☐ ☐ ☐ ☐ ☐
Absent ☐ ☐ ☐ ☐ ☐
______________________________ Jason Wedel, City Manager