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RESOLUTION NO. 10,362
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A RESOLUTION AUTHORIZING THE CITY MANAGER TO
ACCEPT BIDS AND AWARD A CONTRACT TO RHODES &
ASSOCIATES IN THE AMOUNT OF $62,696 TO PROVIDE
PROPERTY INSURANCE FOR CITY OWNED PROPERTY.
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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 enter into a contract with Rhodes &
Associates, the lowest bidder meeting specifications, in an amount not to exceed $62,696 to provide
insurance for City owned property.
SECTION 2. Funding for this project is available from account number 100- 010 -6500-
6032.
SECTION 3. This resolution shall be in full force and effect from and after its adoption.
Adopted:
Attest:
September 15, 1998
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23 C a 111J. � •L
24 Robbie Hancock, City Clerk
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27 Approved as to Legal Form:
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31 Thomas M. Carpenter, C Attorney
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Approved:
Jim Dailey, Mayor
PURCHASING FACT SHEET
BID NO: 98320
DATE OPENED: 8/21/98
NUMBER SOLICITED: 36
DEPARTMENT: General Services
DESCRIPTION: Property Insurance
FUNDING: General
ACCOUNT NUMBER: 100- 010- 6500 -6032
DATE ADVERTISED: 7/20 & 7/29
PRE BID: No
APPROPRIATION OR TRANSFER REQUIRED: As Required
ACCOUNT AVAILABILITY: 50,000
AMOUNT OF PURCHASE: 62,696
SUGGESTED AWARDEE: Rhodes & Assoc.
Little Rock, AR
RECOMMENDATION AND DISCUSSION: It is recommended that the low bidder,
Rhodes be accepted. Rhodes took no exception to the bid specifications and their
underwriter, Reliance Insurance Co., exceeds our AM Best rating requirement.
Deductibles are as follows:
Building /Contents Telephone Equipment and Computer Equi
$5,000 for losses to $499,999.00
$10,000 for losses from $500,000 to $1,499,999.99
$25,000 for losses from $1,500,000 & up
Boiler
$1,000 for Boilers & Machinery under 20HP
$5,000 for Boilers and Machinery over 20HP
This contract is subject to extension for 5 additional years if mutually acceptable and with
City Manager's approval.
BID NO: 98320 • •
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DEPARTMENT: General Services
DESCRIPTION: Property Insurance
TABULATION:
Rhodes & Assoc.
A.J. Gallagher
Stevens -Dell
A.J. Gallagher
A.J. Gallagher
Arkansas Municipal League
($62,696/Yr.)
66,378
68,680
76,696
77,162
154,321
Award