11086I RESOLUTION NO. 11,o86
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3 A RESOLUTION TO AUTHORIZE A CONTRACT WITH
4 CONTINENTAL CASUALTY COMPANY TO PROVIDE
s REINSURANCE FOR THE CITY WORKERS'
6 COMPENSATION PROGRAM; AND FOR OTHER
7 PURPOSES.
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9 WHEREAS, the City had a reinsurance program for workers' compensation insurance
10 that expired on June 30, 2001, and which suggested a renewal only if the City's deductible per
11 incident increased from $250,000 to $500,000, and
12 WHEREAS, after receiving this information in mid- to late -June, the City contacted a
13 number of carriers for proposals that would meet its desired goal of reinsurance with a $250,000
14 per incident deductible, and
15 WHEREAS, the proposal submitted by Continental Casualty Company is deemed to be
16 lowest responsible and responsive quotation and most attractive offer which meets the City's
17 desired deductible,
18 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
19 THE CITY OF LITTLE ROCK, ARKANSAS:
20 Section 1. The City Manager is authorized to enter into an agreement with
21 Continental Casualty Company for a period of one year from July 1, 2001, to June 30, 2002, in
22 an amount not to exceed fifty one thousand five hundred and one dollars ($51,501.00) to provide
23 reinsurance for the City's Workers' Compensation Program.
24 Section 2. Funds for this contract are available from the Workers' Compensation line
25 item in the budget.
26 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause,
27 phrase, or word of this resolution is declared or adjudged to be invalid or unconstitutional, such
28 declaration or adjudication shall not affect the remaining portions of the resolution which shall
29 remain in full force and effect as if the portion so declared or adjudged invalid or
30 unconstitutional was not originally a part of the resolution.
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i Section 4. Repealer. All laws and parts of laws are hereby repealed to the extent of
2 such inconsistency.
3 ADOPTED: July 3, 2001
4 ATTEST:
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Na y Wood /City Clerk
APPROVED AS TO LEGAL FORM:
Thomas M. Carpenter, City Atto ey
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.APPROV
Jim Dailey, Mayor