City of Oak Creek

Common Council Report

Meeting Date:  6/5/07

Item No.:        

Recommendation:  That the Common Council adopt Resolution No. 10768-060507, a resolution of determination to place all public buildings and personal property insurance with the Local Government Property Insurance Fund.

Background:  The City has had their building and property insurance coverage through the State of Wisconsin since at least 1974.  One of the requirements to place this insurance coverage through the state is to receive authorization by a vote of the local governmental unit (Common Council).  The last time a resolution was adopted by the Council was in September 1974.  During an audit, the Office of the Commissioner of Insurance (OCI) found that many of the resolutions on file for Wisconsin municipalities, including Oak Creek, were incorrect, out-of-date, incomplete, etc., and requested an updated resolution.  After adoption of this resolution, a certified copy will be submitted to the LGPIF.

A copy of Wis. Stats., Chapter 605, and Resolution No. 3270-091774 are attached. 

Fiscal Impact:  None.

Prepared by: Beverly A. Buretta, CMC City Clerk

Respectfully submitted, Patrick DeGrave City Administrator