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2689 t � RESOLUTION NO . 2,689 A RESOLUTION AUTHORIZING REBSAMEN & EAST, INCORPORATED, AND LINDSEY & CUNNINGHAM TO FURNISH THE CITY OF LITTLE ROCK PUBLIC AND INSTITUTIONAL PROPERTY INSURANCE ON CERTAIN PROPERTIES OWNED BY THE CITY OF LITTLE ROCK; AUTHORIZING THE PAYMENT OF THE PREMIUM THEREFOR; AUTHORIZING THE CITY MANAGER TO CANCEL THE FIRE INSURANCE COVERAGE FOR SAID PROPERTIES NOW IN FORCE; AND FOR OTHER PURPOSES . BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE ROCK, ARKANSAS: SECTION 1. The City Manager is hereby authorized and directed to purchase from Rebsamen & East, Incorporated, and Lindsey & Cunningham public and institutional property insurance for the properties owned by the City of Little Rock, hereinafter identified, for a five-year term at a premium rate for the first year of Four Thousand Six Hundred Twenty One and 94/100 Dollars ($4,621.94) . SECTION 2. The insurance coverage provided for, hereinabove in Section 1, shall be "Replacement Cost Insurance" and shall cover the following described properties at the replacement cost set opposite each of said properties: Page 2 Item Description and Location VALUES No. of Property Building or Structure 1. City Hall (508 W. Markham) 1, 150,000.00 2. City Health Clinic (701-11 W. Markham) 180,000.00 3. Fine Arts Building (MacArthur Park) 185,000.00 h . Natural History Museum 150,000.00 (MacArthur. Park) 5• Dunbar Community Center 234,000.00 (1001-11 W. 16th St. ) 6. War Memorial Park Golf Club House 48,000.00 7. Rebsamen Park Golf Club House 24,000.00 8. War Memorial Park Bath House 52,000.00 9. Gilliam Park Bath House 18,000.00 10. Light Plant (112 No. Gaines) 24,000.00 11. City Garage (3801 S. Chester) 35,000.00 12. Garage (612 Park) 16,000.00 13. City Police and Court Building 460,000.00 (700 W. Markham) 14. Tennis Center ( 5001 W. Markham) 28,000.00 15. War Memorial Park Warehouse 8,500.00 16. Rebsamen Park Warehouse 8,000.00 17. Boyle Park Caretaker' s Dwelling 10,000.00 18. City Dwelling (619 Dennison) 6,000.00 19. War Memorial Park Caretaker' s 8, 200.00 Dwelling 20. Repair Shop and Old Jail 142,000.00 21. City Pound 35,000.00 SECTION 3 . The City Manager is hereby authorized and directed to cancel all fire insurance policies now in force on the properties identified in Section 2 hereof at such time as he has secured coverage provided for in Section 1 hereof for public and institutional property insurance on said properties . SECTION 4. The City Manager and Lirector of Finance are hereby authorized and directed to issue the necessary warrant or warrants in payment of all or such part of the first year premium, hereinabove pro- vided for, for said new insurance, or such part thereof as can be paid from appropriations made in the 1961 Budget . SECTION 5 . This resolution shall be in full force and effect from and after its adoption. ADOPTED: April 17, 1961 ATTEST: ` APPROVED: t /3 ee.S.0,—J City Clerk Ma