HomeMy WebLinkAbout1986/12/31 - ADMIN - Minutes - City Council - RegularMINUTES
YEAR-END MEETING DECEMBER 31, 1986
ST. LOUIS PARK CITY COUNCIL
1. Call to Order
The meeting was called to order at by Mayor Pro Tem Keith Meland
at 11:27 a.m.
2. Roll Call
The following Council members were present at roll call: Thomas Duffy,
David Strand, Lyle Hanks and Keith Meland
a
s
Also present were the City Manager, City Attorney, Assistant City
Manager and Finance Director.
3. Ordinance establishing Martin Luther King Day as a holiday 3
It was moved by Councilman Duffy, seconded by Mayor Hanks, that the
ordinance No. 1706-86 establishing the third Monday in January as
a legal City holiday in observance of Martin Luther King Day be adopted.
The motion passed unanimously.
4. Vendor claims list
It was moved by Mayor Hanks, seconded by Councilman Strand, that
the December 31, 1986 vendor claims list be approved. The motion
passed unanimously.
5. 1987 umbrella and boiler machinery insurance
The City Manager stated that on Dec. 15, 1986 when the City Council
approved 1987 insurance coverage, staff was still awaiting information
from the Minnesota League of Cities Insurance Trust regarding quotes
for umbrella and boiler/machinery coverage. Those quotes have now
been submitted. The premium for boiler and machinery insurance has
been set at $5,336 a 390% increase over the 1985 level. For umbrella
coverage, the limit has been decreased from $5 million in 1985 to
$1 million. The 1987 premium is $111,724 which represents a 372%
increase from the 1985 premium. In addition, a number of exclusions
for the umbrella liability coverage have been added since 1985. The
City Manager recommended that the City renew its boiler and machinery
insurance. He noted that there were two options which could be exercised
with respect to the umbrella liability coverage. The first option
would be to defer a decision to a later date thereby allowing staff
to continue research into other ways of providing coverage. The City
lisaid that
tfhave dinsurance cision was coveragedeferred
until athe later
proposal twas
hat
thehe City would not
accepted.
The second option noted by the City Manager was to reject the proposal
from the League of Minnesota Citi Insurance uself-insurance cer the umbrella
liability coverage and to in
the amount of the premium whictl have been required by the League
of Minnesota Cities Insurance trust. He said that within five years
the City could expect to build up a $1 million fund'balance for self-
insurance purposes.
Councilman Strand asked if the City had researched the availability
of stop/loss coverage that would provide a re -insurance coverage
for any potential liabilities exceeding $1 million. He suggested
that staff investigate this possibility.
It was moved by Councilman Strand, seconded by Mayor Hanks to accept
the proposal for boiler and machinery insurance, to reject the bid
for 1987 umbrella liability insurance and to authorize staff to establish
a self-insurance account and sutmit a financing plan for
:he self-insurance program upon completion of the 1986 annual report. and
that the City research the availability of stop/loss coverage.
The motion passed unanimously.
6. Ad jourment
�t was moved by Councilsan Duffy. seconded by Mayor Hanks, to adjourn
the meeting at 11:38 a.m.
Respectfully submitted,
r
Laron G. Kluspp
Recording Secretary