City Council Minutes 1987 11 17 - Laserfiche WebLink

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Mohr moved that Ordinance #945 be adopted. Anderson seconded. By Roll Call Vote, Ordinance #945 was adopted unanimously. AUTHORIZATION TO RETAIN INSURANCE CONSULTANT TO DRAFT RFP FOR CITY'S INSURANCE Hundley stated that the Cit 's ro ert public officials and police liab It y insurance will expire on March 28, 1988. For the past six years, Insurance Associates of Estes has been the City's insurance carrier. At this time staff is requesting authorization from Council to obtain bids for the City's insurance before the renewal date of March 28th. Staff is also requesting Council's authoriza- tion to hire an insurance consultant to assist in developing RFP's anti assistance in reviewing the proposals. The anticipated cost for obtaining an insurance consultant is $1,000 and staff is re- questing that these funds be allocated from the Council Contingency Fund. Szymanski, Finance (:ommittee Chairman, stated that the Committee met with staff regarding this issue and feel that it is beneficial to bid the insurance for the City since ~:t has been six years since it has been bid. An insurance consultant is important as insurance is a vE~ry "precise science as such," Szymanski stated anc~ feels that $1,000 is "money well spent" to advise the City especially when considering that thE~ City pays annual premiums in the neighborhood of $150,000 - $200,000. The Committee recommends; the approval of this proposal. Sackett asked if the consultant would stand to benefit from any referrals. Szymanski stated that the consultant is strictly a consultant, not a broker and would not. be bidding on the insurance. Mohr concurred stating that a consultant helps to determine if "you have all the bases covered" and help to put together a bid package to brokers or contractors. He would also help evaluate the bids to ensure the best insurance package for the City. Mayor Fauson moved ghat Council authorize staff to hire an insurance consultant to assist in preparing RFP's regarding the City's insurance at a cost not to exceed $1,000. Sackett seconded. Unanimous. RESOLUTION #36 - 1987 BUDGET AMENDMENTS - SET PUBLIC HEARING Rautenstraus stated that staff is seeking permission to publish the Resolution and a public hearing set for December 1, 1987. Resolution #36 is "A Resolu- tion amending the 1987 Budget by decreasing or in- creasing revenues and appropriations in the General, 9