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%sir <br />Ir <br />m <br />m 1 0 2005 <br />REQUEST FOR COUNCIL ACTION <br />Cl I Y OK OHUNO <br />DATE: January 10. 2005 <br />ITEM NO: / 7 <br />Department Approval: ^ ,y . <br />Name l orn Kuclin c^^u/u <br />Title Finance Director <br />Administrator Keviesved: Agenda Section: <br />V 1. City Administrator's <br />Report <br />Item Description: City F.lectio:i Not to \Vaive the Statutory Tort Limits for Liability <br />Insurance Purposes - Resolution <br />Attacluiicnt: Resolution Not to Waive the Statutory Tort IJmits for Liabilit> Insurance <br />Purposes. <br />The City obtains worker compensation, liability, umbrella liability, property and auto <br />insurance coverages through the l.eague of Minnesota Cities Insurance I'ru.st (I.MCIT). The <br />LMCTf requires the City to adopt a resolution stipulating whether the City will or will not <br />waive the statutory liability limits under Minnesota state statutes. 'Die City dt>es prtrvide <br />umbrella e.xcess liability insurance of $2 million for those situations where the stautory limits <br />do ii(*t apply. 1 lowever, the City does not waive those limits where they do apply, thus <br />limiting exposure. <br />Council has ado|)ted a new resolution each year. I lowever. an annual re.solution is not required <br />if the resolution Council adoptes stipulates the City's intent to not waive the statutor>’ limits as <br />a continuing event. Stall’recommends the adt>ptit)ii of the attached resolutimt to not waive the <br />statutory limits under Minnesota law. <br />COUNCIL ACTION REQUES TED: Adoption of Rc.solution No., <br />the Statut»»ry fort Limits For Liability Insut.mce Purptises Henceforth. <br />. Not to Wai\ e <br />i