14219 1 RESOLUTION NO. 14,219
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3 A RESOLUTION TO AUTHORIZE THE CITY MANAGER TO EXTEND
4 THE EXISTING POLICY WITH AFFILIATED FM TO PROVIDE
5 PROPERTY INSURANCE COVERAGE FOR CITY-OWNED
6 FACILITIES, TOGETHER WITH CONTENTS, EQUIPMENT AND
7 OTHER PROPERTY, FOR A TWELVE (12)-MONTH PERIOD,
8 EFFECTIVE NOVEMBER 1,2015; AND FOR OTHER PURPOSES.
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10 WHEREAS,the City purchases insurance coverage to insure against loss and damage to City-owned
11 buildings, facilities and other properties,together with contents, equipment and other property with a total
12 valuation in excess of Three Hundred Million Dollars($380,000,000.00); and,
13 WHEREAS; Affiliated FM, the incumbent provider of Property Insurance coverage, has offered a
14 renewal effective November 1, 2015, with no increase in premium rates; and,
15 WHEREAS,Affiliated FM has provided responsive service and additional programs to assist with loss
16 prevention;and,
17 WHEREAS, the proposed renewal will represent the fourth year of a maximum seven (7)-year term
18 noted in the most recent Request for Proposal;
19 NOW,THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
20 OF LITTLE ROCK,ARKANSAS:
21 Section 1.The City Manager is authorized to extend the current contract with Affiliated FM to provide
22 Property Insurance coverage for City buildings, facilities and other properties, together with contents,
23 equipment and other property for another year,effective November 1, 2015.
24 Section 2. The cost for providing this coverage has been included in the 2015 Budget line items.
25 Payment will made via the contracted broker of record, Bancorp South Insurance.
26 Section 3.Severability. In the event any title,section,paragraph,item,sentence,clause,phrase,or word
27 of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or adjudication
28 shall not affect the remaining portions of the resolution which shall remain in full force and effect as if the
29 portion so declared or adjudged invalid or unconstitutional were not originally a part of the resolution.
30 Section 4.Repealer. All laws, ordinances, resolutions,or parts of the same,that are inconsistent with
31 the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
32 ADOPTED: October 20,2015
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A_ T , :j APPROVE
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3 �roigi
4 'an L ji :ley,City Clerk Mark Stodola, Mayor
5 AP' ' I %, AS TO LEGAL FORM:
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7 1 4i. r/
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8 Thomas M.Carpenter, Attorn
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