HomeMy WebLinkAbout26-053 Authorizing the 2026 Insurance Policy Renewals
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4646 Dakota Street SE Prior Lake, MN 55372
RESOLUTION 26-53 RESOLUTION AUTHORIZING THE 2026 INSURANCE POLICY RENEWALS Motion By: Lake 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 02/01/2026 through 02/01/2027; and WHEREAS, premium costs for the respective coverage are as set forth in the April 14, 2026 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 2026 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 14th day of April 2026. VOTE Briggs Braid Churchill Lake Hellier
Aye ☒ ☒ ☒ ☒ ☒
Nay ☐ ☐ ☐ ☐ ☐
Abstain ☐ ☐ ☐ ☐ ☐
Absent ☐ ☐ ☐ ☐ ☐
______________________________ Jason Wedel, City Manager