The URL can be used to link to this page

Home My WebLink About17097 1 RESOLUTION NO. 17,097 2 3 A RESOLUTION TO AUTHORIZE CITY REIMBURSEMENT TO THE 4 ARKANSAS MUSEUM OF FINE ARTS IN AN AMOUNT NOT TO 5 EXCEED FIVE HUNDRED FORTY-ONE THOUSAND, NINE HUNDRED 6 FORTY-TWO DOLLARS ($541,942.00) FROM INSURANCE CLAIM 7 PROCEEDS PAID TO THE CITY BY TRAVELERS INDEMNITY 8 COMPANY FOR THE APRIL 5, 2025, FLOOD DAMAGE THE MUSEUM 9 SUSTAINED; AND FOR OTHER PURPOSES. 10 11 WHEREAS, the City of Little Rock maintains property insurance coverage with the Travelers 12 Indemnity Company on all City-owned and maintained properties and facilities, including the Arkansas 13 Museum of Fine Arts; and, 14 WHEREAS,on April 5, 2025,the Arkansas Museum of Fine Arts sustained flood damages resulting 15 in a claimable loss against the City's property insurance policy with Travelers; and, 16 WHEREAS,as the owner of the affected property,the City of Little Rock made a claim with Travelers 17 Indemnity Company against the City's property insurance policy for the Arkansas Museum of Fine Arts 18 loss with damages being appraised at Six Hundred Forty-One Thousand,Nine Hundred Forty-Two Dollars 19 ($641,942.00); and, 20 WHEREAS,after reduction for the One Hundred Thousand Dollars($100,000.00)policy deductible, 21 Travelers Indemnity Company paid out the damages claim to the City in the amount of Five Hundred Forty- 22 One Thousand Nine Hundred Forty-Two Dollars($541,942.00);and 23 WHEREAS,the City of Little Rock, Arkansas, has or will receive insurance proceeds from the claim 24 of Five Hundred Forty-One Thousand Nine Hundred Forty-Two Dollars($541,942.00)which will be paid 25 to the Arkansas Museum of Fine Arts as reimbursement for the losses resulting from the April 5, 2025, 26 flood damage. 27 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY 28 OF LITTLE ROCK,ARKANSAS: 29 Section 1. The City Manager is authorized to reimburse the Arkansas Museum of Fine Arts in the 30 amount of Five Hundred Forty-One Thousand, Nine Hundred Forty-Two Dollars ($541,942.00) from 31 insurance claim proceeds paid to the City by Travelers for April 5, 2025, flood damage the Museum 32 sustained. [Page 1 of 2] 1 Section 2.Funds for this flood damage claim reimbursement payout are allocated in Finance Account 2 Nos. 100000-20014 and 100000-66010. 3 Section 3.Severability.In the event any title,section,paragraph,item,sentence,clause,phrase,or word 4 of this resolution is declared or adjudged to be invalid or unconstitutional,such declaration or adjudication 5 shall not affect the remaining portions of the resolution which shall remain in full force and effect as if the 6 portion so declared or adjudged invalid or unconstitutional was not originally a part of the resolution. 7 Section 4. Repealer. All laws,ordinances,resolutions,or parts of the same,that are inconsistent with 8 the provisions of this resolution,are hereby repealed to the extent of such inconsistency. 9 ADOPTED: July 7,2026 10 ATTEST: APPROVED: 11 • 12 AlitUDA- 13 Allison Segars,City I Frank Scott,Jr.,Mayor 14 APPROVED AS TO LEGAL FORM: 15 16 11.411 A. j M 17 Thomas M.Carpenter,City Attor 18 // 19 // 20 // 21 // 22 // 23 // 24 // 25 // 26 // 27 // 28 // 29 // 30 // 31 // 32 // [Page 2 of 21