HomeMy WebLinkAboutCity Council Resolution 2015-077
CP
ITY OF LYMOUTH
RN.2015-077
ESOLUTION O
R2015-2016
ESOLUTION AWARDING THE CONTRACT FOR
PROPERTY AND CASUALTY INSURANCE TO
LMCIT(LMCIT)
THE EAGUE OF INNESOTA ITIES NSURANCE RUST
WHEREAS, the city desires to purchase insurance coverage for potential liability and
property losses; and
WHEREAS, the city has reviewed the proposal for the necessary insurance coverage; and
WHEREAS, the city received a renewal from the League of Minnesota Cities Insurance
Trust for an annual premium of $412,067; and
WHEREAS, staff recommends that the City Council authorize the statutory tort liability
limit of $1,500,000.
NOW,THEREFORE,BEITRESOLVEDBYTHECITYCOUNCILOFTHECITYOFPLYMOUTH,
MINNESOTAthat the 2015-2016 contract for property and casualty insurance is awarded to the
League of Minnesota Cities Insurance Trust for an annual premium of $412,067, and
NOW,THEREFORE,BEITFURTHERRESOLVEDBYTHECITYCOUNCILOFTHECITYOF
PLYMOUTH,MINNESOTAthat the statutory tort liability limit of $1,500,000 is authorized.
APPROVED by the City Council this 24th day of March, 2015.