11828I RESOLUTION NO. 11,828
2
3 A RESOLUTION
TO AUTHORIZE
THE CITY MANAGER TO
4 RENEW THE
CONTRACT
WITH RHODES AND
5 ASSOCIATES /RAI FOR CITY PROPERTY INSURANCE
6 COVERAGE FOR AN ADDITIONAL YEAR; AND FOR OTHER
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PURPOSES.
WHEREAS, the City purchases insurance to provide coverage for City -owned
buildings and facilities, with such purchase of coverage being subject periodically to
the bidding process, and
WHEREAS, the incumbent provider has submitted a renewal quote for property
insurance coverage at a premium rate and total premium lower than the current year's
policy, and
WHEREAS, the renewal quote has been reviewed by the consultant/broker for
the City's property insurance coverage, compared it to other insurance providers, and
determined that the renewal quote is the best combination of premium rates and
coverage for the City.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
Section 1. The City Manager is authorized to renew an agreement with
Rhodes and Associates /RAI to provide property insurance coverage for City -owned
buildings and facilities, for the 12 -month period effective October 1, 2004, with a
reduction in premium rate for the City.
Section 2. Funds for the cost of this coverage will be included as a line item in
the 2005 City budget.
Resolution
Property Insurance Contract Renewal
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Section 3. Severability. In the event any portion of this ordinance is declared or
adjudged to be invalid or unconstitutional, such declaration or adjudication shall not
affect the remaining portions of this ordinance, which shall remain in full force and
effect as if the portion so declared or adjudged invalid or unconstitutional was not
originally a part of this ordinance.
Section 4. Repealer. All ordinances and resolutions, and parts thereof, which
are in conflict with any provision of this ordinance are hereby repealed to the extent of
such conflict.
ADOPTED: September 21, 2004
ATTEST: APPROVED:
Nancj�WooceCity Clerk
APPROVED AS TO LEGAL FORM:
t
Thomas M. Carpenter, City A�omey
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Resolution
Property Insurance Contract Renewal
q4A
Jim D ' ey, Mayor