BY COUNCILOR JOHNSON:
RESOLVED, that the proper city officers are hereby authorized to renew its agreement with Minnesota Mutual Life to provide group term life insurance coverage for city employees and retirees during the year 2005 at the amounts specified in various bargaining unit contracts, under which agreement the city will purchase such insurance at a rate of $.35 per thousand per month, at an estimated cost of $212,009, which shall be payable from various funds and agencies.
STATEMENT OF PURPOSE: This resolution renews an agreement with Minnesota Mutual Life to provide the city’s group term life insurance for the year 2005. The year 2005 rate will be $.35 per thousand per month. Last year’s rate was $.35 per thousand per month.