HomeMy WebLinkAboutCity of Tamarac Resolution (267)1
Temp. Reso. ##9912
September 19, 2002
Page 1
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-2002-267
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF TAMARAC, FLORIDA, AUTHORIZING THE
RENEWAL OF PROPERTY, GENERAL LIABILITY,
AUTOMOBILE LIABILITY, AUTOMOBILE PHYSICAL
DAMAGE LIABILITY AND WORKERS'
COMPENSATION LINES OF COVERAGE WITH THE
FLORIDA MUNICIPAL INSURANCE TRUST FOR A
ONE (1) YEAR PERIOD AT A COST OF $883,902,00,
WITH AN EFFECTIVE POLICY DATE OF OCTOBER 1,
2002; PROVIDING FOR CONFLICTS; PROVIDING
FOR SEVERABILITY; AND PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, the City of Tamarac currently holds several lines of insurance
coverage with the Florida Municipal Insurance Trust (FMIT); and
WHEREAS, the City's policies with the FMIT for Property, General Liability,
Automobile Liability, Automobile Physical Damage and Workers' Compensation
expire September 30, 2002; and
WHEREAS, the FMIT has submitted renewal premiums to the City; and
WHEREAS, currently the City has a $10,000 deductible for its Property
coverages; and
WHEREAS, the premiums for the Property coverage are lower if the City opts
to have a $25,000 deductible instead of the $10,000 deductible; and
WHEREAS, it is recommended that the City procure Property coverage which
includes a $25,000 deductible as evaluated as in the best interest of the City; and
WHEREAS, if the City renews its lines of coverage with the FMIT with a
revision to the Property coverage deductible, the FMIT will provide payment for all
defense costs incurred with the City being responsible for settlement and judgment
Temp. Reso. #9912
September 19, 2002
Page 2
costs up to $10,000 for Automobile Physical Damage, and $25,000 per claim for
Property, General Liability, Automobile Liability, and Workers' Compensation claims;
wore
WHEREAS, it is the recommendation of the City Manager and the Director of
Personnel that the City renew its Property, General Liability, Automobile Liability,
Automobile Physical Damage, and Workers' Compensation lines of coverage with
the FMIT with the revisions indicated above for a one year period at a cost of
$883,902.00, with said lines of coverage to expire on September 30, 2003; and
WHEREAS, City Commission of the City of Tamarac, Florida deems it to be
in the best interest of the citizens and residents of the City of Tamarac to renew the
City's Property, General Liability, Automobile Liability, Automobile Physical Damage,
and Workers' Compensation lines of coverage with the FMIT for a one year period
with the revisions as outlined above.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
THE CITY OF TAMARAC, FLORIDA:
SECTION 1: The foregoing 'WHEREAS" clauses are hereby ratified
and confirmed as being true and correct and are hereby made a specific part of this
Resolution.
SECTION 2: That the appropriate City officials of the City of Tamarac
are authorized to renew the City's Property, General Liability, Automobile Liability,
Automobile Physical Damage, and Workers' Compensation lines of coverage with
the FMIT with the revisions indicated above for a one year period at a cost of
$883,902.00, (as indicated in the Option II premium rate quote submitted by the
FMIT and attached hereto as Exhibit 1) with said lines of coverage to expire on
September 30, 2003.
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Temp. Reso. #9912
September 19, 2002
Page 3
SECTION 3: All resolutions or parts of resolutions in conflict herewith
are hereby repealed to the extent of such conflict.
SECTION 4: If any clause, section, or other part or application of this
Resolution is held by any court of competent jurisdiction to be unconstitutional or
invalid, in part or application, it shall not affect the validity of the remaining portions
or applications of this Resolution.
SECTION 5: This Resolution shall become effective immediately
upon its passage and adoption.
PASSED, ADOPTED AND APPROVED this 25t" day of September, 2002.
ATTEST:
2 zitLv
MARION SWENSON, CMC
CITY CLERK
I HEREBY CERTIFY that
I have approved this
RESOLUTION as to form.
MITCHELL S. KRACPFt
?' CITY ATTORN,Y
JOE SCHREIBER
MAYOR
RECORD OF COMMISSION VOTE:
MAYOR SCHREIBER
AYE
DIST 1:
V/M. PORTNER
AYE
DIST 2:
COMM. MISHKIN
AYE
DIST 3:
COMM. SULTANOF
AYE
DIST 4:
COMM. ROBERTS
AYE
;Dtr- I i -zuu;� I UL AM FLORIDA LEAGUE OF CITIES FAX N0, 407 317 7181 P, 02
EXHIBIT I
FLORIDA MUNICIPAL INSURANCE TRUST
CITY OF TAMARAC
DEDUCTIBLE STOPLOSS PROGRAM
OPTION I
Deductible
Workers' Compensation $25,000
I_mbility" $25,000
Automobile Liability $25,000
Automobile Physical Damage $10,000
Property $10,000
Total
otoploss Amount
Total Program Cost
OPTION II
nedLICtlble
Workers' Compensation $25,000
L,iai-jility" $25,000
Automobile Liability $25,000
Automobile Physical Damage $10,000
Property $25,000
Total
Stoploss Amount
Total Program frost
Premium
$477,546
$164,449
$62,116
$20,219
j220 748
$945,078
$839,623
$1,784,901
Premium
$477,546
$164,449
$62,116
$20.219
$159,572
$883,902
3639,823
$1,723,725
Includes General liability and Public Officials Errors & Omissions Liability
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