RESOLVED, that city officials are hereby authorized to contract with Liscomb-Hood-Mason Company for property insurance from February 16, 2008, through February 15, 2009, covering 40 city-owned structures, miscellaneous equipment, and business personal property in accordance with its quote of $87,886.99, terms net 30, payable as follows:
(a) $9,378.87 from the Duluth economic development authority Fund 866, Agency 860, Object 5360;
(b) $78,508.12 from the Self-Insurance Fund 610, Agency 036, Organization 1650, Object 5360.
ADMIN/ATTY/PURCH DS:le 3/4/2008
STATEMENT OF PURPOSE: This resolution will renew a contract with Liscomb-Hood-Mason Company for property insurance covering 40 city-owned structures, miscellaneous equipment, and business personal property in 2008 for $87,886.99, payable from the self insurance fund. Last year’s total was $74,375.
In relation to last year:
(a) The rate remains constant per the agreement;
(b) The difference is in the addition of the Northwest building and the 2.5 percent agreed-upon increase in real property;
(c) The new blanket limit is $136,305,336 ($100,000 deductible).
The contract period is from February 16, 2008, through February 15, 2009, the second year of a potential five year contract.
The city published the original request for bids in February 2007; three vendors responded by the closing date of February 2, 2007 - Liscomb-Hood- Mason, Otis Magie and Henry A. Anderson. Liscomb-Hood-Mason Company, located in Duluth, Minnesota, offered the best proposal.
Bid No. 08-0252