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HomeMy WebLinkAbout~Master - Renewal of casualty and liability coverages RESOLUTION NO. 05-279 RESOLUTION APPROVING RENEWAL OF CASUALTY AND LIABILITY COVERAGES FOR THE CITY OF AMES WHEREAS, the policy for the City's liability coverages expires on July 1, 2005, and the incumbent carrier is the Iowa Communities Assurance Pool (IAP); and, WHEREAS,Council will recall that the City switched to the IAP last year in anticipation of a long-term relationship, and staff did not seek any additional proposals for liability coverages this year; and, WHEREAS,overall,the rates for FY 2005/06 are down 13.7%from staff s budget estimates; and, WHEREAS,as of July 1,2005,the City will have approximately$142,000 in its cumulative reserve fund with IAP. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa, that renewal of liability insurance coverages from Iowa Communities Assurance Pool in the amount of$346,740 is hereby approved. ADOPTED THIS 28t''day of June, 2005. C��?-_bQ& �Z� Diane R. Voss, City Clerk Ted Tedesco, Mayor Introduced by: Cross Seconded by: Mahayni Voting aye: Cross, Goodman, Mahayni, Vegge, Wirth Voting nay: None Absent: Goodhue Resolution declared adopted and signed by the Mayor this 28t'day of June, 2005.