HomeMy WebLinkAbout94-30 - ADMIN Resolution - City Council - 1994/03/07r
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RESOLUTION NO. 94-30
RESOLUTION awarding contracts for 1994/95 insurance coverages.
WHEREAS, The City has requested quotations for 1994/95 insurance coverage, and
WHEREAS, The City Council has received insurance quotations from the League of Minnesota
Cities Insurance Trust and Hartford Steam Boiler Insurance Co., and
WHEREAS, an evaluation of the quotations has been made and the quotations are acceptable.
NOW THEREFORE BE IT RESOLVED, by the City Council that the City of St. Louis Park
purchase the 1994/95 insurance coverages from the League of Minnesota Insurance Trust and
Hartford Steam Boiler Insurance Co., as per the quotations submitted.
BE IT FURTHER RESOLVED, that the deductibles be increased from $25,000/$50,000/$1,000
to $50,000/$150,000/$1,000.
BE IT EVEN FURTHER RESOLVED, that the savings in premiums resulting from the
changes in the deductibles be transferred and held in reserve in the Uninsured Loss Fund.
Attest:
c di. w 4 x • • 7AJ
City Clerk
Reviewed for administration:
Adopted by the City Council March 7, 1994
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Approved as to form and execution:
ceaa__Aree
City Attorney