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COUMCIL MEETING <br />MAK 2 2 1999 <br />REQUEST FOR COUNCIL ACTION <br />Cl IY Uh UHUmU DATE: March 17,1999 <br />ITEM NO:/Ip <br />Department Approval: Administrator Reviewed: Agenda Section: <br />Name Tom Kuehn'^'**^ Administrator's <br />Title Finance Director Report <br />Item Description: Insurance Agent of Record Agreement Extension <br />Attachments: Agreement for Insurance Brokerage Services <br />The City has been represented by Carl Bennetsen, of the Youngdahl Companies, as the <br />insurance agent of record under an initial three year contract from 1996 through 1999, at <br />a cost of $7,200 per year. We have been well represented and Mr. Bennetsen has <br />endeavored to contain and reduce our various expos’ires, and premium costs. <br />Mr. Bennetsen has presented a proposal to extend the agreement on a year to year basis <br />with no increase in the annual fee for service. The agreement would renew each January <br />1, unless canceled in writing by either party. In addition any commissions that become <br />payable to the agent would be credited to the City's account, so that the total fee for <br />service would remain the same. <br />As we are very satisfied with the services w'e are receiving from the Youngdsdil agency, <br />staff recommends extending the agreement as presented. <br />COUNCIL ACTION REQUESTED: <br />Council approval and authorization to extend the Agreement for Insurance Brokerage <br />Services between Youngdahl Companies and the City of Orono, for an annual fee of <br />$7,200, commencing January 1, 1999 through January 1, 2000, and from year to year <br />thereafter until canceled in writing by either party. <br />TOM\MSW\IKSBROKILDOC <br />i