HomeMy WebLinkAbout13374I RESOLUTION NO. 13,374
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3 A RESOLUTION TO AUTHORIZE THE CITY MANAGER TO RENEW
4 THE CONTRACT WITH TRAVELERS INSURANCE COMPANY FOR
5 CITY PROPERTY INSURANCE COVERAGE FOR AN ADDITIONAL
6 YEAR; AND FOR OTHER PURPOSES.
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8 WHEREAS, the City of Little Rock owns over $300 million in properties that are protected from
9 catastrophic loss through the purchase of a comprehensive property insurance policy, and
10 WHEREAS, the incumbent provider of the coverage for City -owned buildings, facilities and other
11 properties has proposed renewal of the coverage that includes several additional properties and recognizes
12 higher values of existing properties based on information provided by City Departments, and
13 WHEREAS, the total increase in premium, that includes the additional properties and higher value
14 of existing properties, is approximately 7 %.
15 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
16 OF LITTLE ROCK, ARKANSAS:
17 Section 1. The City Manager is authorized to renew the property insurance coverage provided by
18 Travelers Insurance Company for City -owned buildings and facilities for the twelve (12) -month period
19 effective October 1, 2011.
20 Section 2. Funds for the cost of the coverage are included as a line item in the 2011 City Budget.
21 Section 3. Severability. In the event any portion of this resolution is declared or adjudged to be
22 invalid or unconstitutional, such declaration or adjudication shall not affect the remaining portions of this
23 resolution, which shall remain in full force and effect as if the portion so declared or adjudged invalid or
24 unconstitutional, was not originally a part of the resolution.
25 Section 4. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent with
26 the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
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ADOPTED: October 3, 2011
APPROVED:
Mark Stodola, Mayor
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APPROVED AS TO LEGAL FORM:
Thomas M. Carpenter, Ci Attorney
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