04-0069R

RESOLUTION AUTHORIZING A CONTRACT TO OTIS-MAGIE-GUSTAFSON AGENCY FOR PROPERTY INSURANCE FOR 47 CITY OWNED STRUCTURES AND 26 PIECES OF EQUIPMENT IN THE AMOUNT OF $104,981.

BY COUNCILOR STEWART:

RESOLVED, that Otis-Magie-Gustafson Agency be and hereby is awarded a contract for furnishing property insurance for 47 city owned structures and 26 pieces of equipment in accordance with specifications on its specification bid of $104,981, terms net 30, FOB destination, payable out of Self Insurance Liability Fund 0610, Department/Agency 036, Organization 1651, Object 5360.


STATEMENT OF PURPOSE: This resolution will authorize the purchase of property insurance on 47 City owned structures and 26 pieces of equipment from Otis-Magie-Gustafson Agency for $104,981 to be paid from Self Insurance Liability Fund 0610. The city will be insuring a schedule of values of approximately $112,995,148. The list of buildings and equipments that are included in the schedule of value is attached to the resolution. Bid No. 02-0478; Requisition No. 04-0113

Tabulation of bids received December 1, 2003

Otis-Magie-Gustafson Agency, Duluth,MN $107,356.90 (prorated) $104,981.00
Cartier Agency, Duluth, MN $132,270.63 (prorated) $129,343.36