RESOLUTION NO. 10798-110607
BY: _____________________________
RESOLUTION ACCEPTING LIABILITY INSURANCE PROPOSAL
FROM CITIES AND VILLAGES MUTUAL INSURANCE COMPANY (CVMIC)
AND AGREEING TO CONTINUE THE CITY’S MEMBERSHIP IN CVMIC
FOR POLICY YEARS 2008, 2009 AND 2010
WHEREAS, the City was enrolled as a member of the Cities and Villages Mutual Insurance Company (CVMIC) in December 2000; and
WHEREAS, the City awarded excess liability coverages for General Liability, Automobile Liability, Excess Liability, Law Enforcement Liability, and Public Officials Liability to CVMIC for policy years 2006-2008; and
WHEREAS, CVMIC has provided an updated pricing proposal to enable members to control costs and allow for greater budgetary stabilization, and is seeking a commitment for the three-year period for policy years 2008, 2009 and 2010, with the previously accepted coverage for 2008 being part of this updated three-year package; and
WHEREAS, the Common Council believes it to be in the City’s best interest to continue membership and maintain guaranteed premium levels.
NOW, THEREFORE, BE IT RESOLVED that the City of Oak Creek accepts the liability insurance proposal dated from CVMIC and agrees to continue its membership in CVMIC for policy years 2008, 2009 and 2010, based on the premiums guaranteed by CVMIC for said policy years.
Intoduced at a regular meeting of the Common Council meeting of the City of Oak Creek this 6th day of November, 2007.
_________________________________
President, Common Council
Adopted this ____ day of ____________________, 2007.
_________________________________
Mayor
Approved this _____ day of ________________________, 2007.
ATTEST.
_______________________________
City Clerk Vote: Ayes _______ Noes _______