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RESOLUTION NO. 12,103
3 A RESOLUTION TO AUTHORIZE THE CITY MANAGER TO
4 ENTER INTO A CONTRACT WITH ST. PAUL /TRAVELERS FOR
5 CITY PROPERTY INSURANCE COVERAGE FOR AN ADDITIONAL
6 YEAR, AND FOR OTHER PURPOSES.
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8 WHEREAS, the City purchases insurance to provide coverage for City -owned
9 buildings and facilities, with such purchase of coverage being subject periodically to
10 the bidding process, and
11 WHEREAS, a Request for Proposal for this coverage was issued to the
12 appropriate insurance markets by the City's consultant /agent for property insurance
13 coverage, and the proposal from St. Paul /Travelers provides the highest level of
14 coverage and the lowest premium costs.
15 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF
16 DIRECTORS OF THE CITY OF LITTLE ROCK, ARKANSAS:
17 Section 1. The City Manager is authorized to enter into an agreement with St.
18 Paul /Travelers to provide property insurance coverage for City -owned buildings and
19 facilities, for the 12 -month period effective October 1, 2005, with a reduction in
20 premium rate for the City.
21 Section 2. Funds for the cost of this coverage will be included as a line item in
22 the 2006 City budget.
23 Section 3. Severability. In the event any portion of this resolution is declared or
24 adjudged to be invalid or unconstitutional, such declaration or adjudication shall not
25 affect the remaining portions of this resolution, which shall remain in full force and
26 effect as if the portion so declared or adjudged invalid or unconstitutional was not
27 originally a part of this resolution.
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Resolution
Property Insurance Contract
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Section 4. Repealer. All ordinances and resolutions, and parts thereof, which
are in conflict with any provision of this resolution are hereby repealed to the extent of
such conflict.
ADOPTED: October 4, 2005
ATTEST:
A" ' - J. &'��
Naiaki S. Blocker, Assistant City Clerk
For Nancy Wood, City Clerk
APPROVED AS TO LEGAL FORM:
Thomas M. Carpenter, City Aithmey
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Resolution
Property Insurance Contract
APPROVED:
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Jim D ' ey, Mayor