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r? <br />’’ r <br />JAN 1 0 2005 <br />REQUEST FOR COUNCIL ACTION <br />CIIYOFOROIMO <br />DATE: JaniiaiA’10,2005 <br />ITEM NO <br />= !& <br />Department Approval: . <br />Name Tom Kuehn <br />Title Finance Director <br />Administrator Reviewed: Agenda Section: <br />City Administrator's <br />Report/Y <br />Item Description: City Insurance Agent Fee Adjustment <br />The City's insurance agent of record is Pat Mcgcr, of Arthur J. Gallagher & Co. of Minnesota. <br />The annual fee for service to the City was fixed at $7,200 per year for the three year period <br />1996 through 1998. At the end of the three year period the fee for service was reviewed to <br />determine if an increase was necessary. The agency has continued to ser\ e the City at the <br />same annual fee from 1999 through 2004. The agency is requesting an increase from $7,200 <br />per year to $8,400 per year, effective with the 2005 service year. 1 he increase annualized <br />over the period 1999 through 2005 is 2.23% per year. <br />COUNCIL ACTION REQUESTED: Motion to approve the insurance agent of record <br />annual fee for ser\'icc at $8,400, effective Januarj’ 1,2005. <br />Wind\Vfmo Cotmed Acikhi\200«\4i« Aftm Fm Ad^ iww <br />........J