HomeMy WebLinkAbout~Master - Contract renewal of property and boiler and machinery coverage RESOLUTION NO. 09-301
RESOLUTION APPROVING RENEWAL OF CONTRACT FOR
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 1,2009,and FM Global has provided this coverage for the
past five 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 Global has been invaluable to the City in its assistance with our ongoing loss control
initiatives.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that renewal of the contract for property coverage and boiler and machinery coverage with FM
Global for fiscal year 2009/10 in the amount of$473,300 is hereby approved.
ADOPTED THIS 23rd day of June, 2009.
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 23' day of June, 2009.