HomeMy WebLinkAbout99-031 CITY OF LAKEVILLE
DAKOTA COUNTY, MINNESOTA
Date February 16. 1999 Resolution 99 31
Motion By Mulvihill SecondedBy sinat
RESOLUTION APPROVING INSURANCE DEDUCTIBLE
WHEREAS, it is in the best financial interest of the City to increase the City's
insurance deductible; and
WHEREAS, by increasing the City's insurance deductible to an appropriate level
the City anticipates a net savings of approximately $51,681.00; and
WHEREAS, the City has received a report dated January 29, 1999 from the City's
Finance Director recommending the change in deductible.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Lakeville:
Upon renewal of the City's insurance coverage with the League of
Minnesota Cities Insurance Trust, the City selects the deductible described
as "Option 2" in the Finance Director's memorandum of January 29, 1999:
a $25,000 deductible per occurrence with the deductible decreasing to
$1,000 per occurrence after attaining $75,000 of aggregate claims paid.
ADOPTED this 16th day of February , 1999, by the City Council of the
City of Lakeville.
CITY OF LAKEVII.LE
Duane R. Zaun, M _ or
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Charlene Friedges, City Jerk
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