HomeMy WebLinkAbout~Master - Renewal of property and boiler and machinery coverage RESOLUTION NO. 08-263
RESOLUTION APPROVING RENEWAL OF PROPERTY AND
BOILER AND MACHINERY COVERAGE
FOR THE CITY OF AMES
WHEREAS, the insurance policy for the City's property(building and contents) and boiler
and machinery coverage expires on July 1,2008,and FM Global has provided this coverage for the
last four fiscal years; and,
WHEREAS, the market for property insurance remains very difficult, and staff could not
identify other insurance carriers that could provide all of the required coverage under one all-risk
policy; and,
WHEREAS,the relationship with FM Global continues to be a very satisfying one for both
parties, and FM has been invaluable to the City in its assistance with our ongoing loss control
initiatives (e.g.,building plan review, site evaluation, etc.).
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the proposal from FM Global for renewal of property coverage and boiler and maintenance
coverage during FY 2008/09 in the amount of$422,552 is hereby approved.
ADOPTED THIS 24`'' day of June, 2008.
_ 'R.us-a& A. x.
Diane R. Voss, City Clerk Ann H. Campbell, Mayor
Introduced by: Mahayni
Seconded by: Goodman
Voting aye: Doll, Goodman, Larson, Mahayni, Popken, Rice
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 24t'day of June, 2008.