DISCLAIMER

 

08-0174R


RESOLUTION AUTHORIZING THE PROPER CITY OFFICIALS TO CONTRACT WITH LISCOMB-HOOD-MASON COMPANY FOR PROPERTY INSURANCE COVERING CITY-OWNED BUILDINGS, EQUIPMENT AND BUSINESS PERSONAL PROPERTY DURING YEAR 2008 IN THE AMOUNT OF $87,886.99.

CITY PROPOSAL:

     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