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<br />City Council Meeting <br />P:\Admin\Council\Agendas & Packet Information\2014\11-24-14- <br />R\Sue\2014_Liability_Coverage_Limits.doc <br />Page 1 of 1 <br />CONSENT ITEM – 5D <br /> MEMORANDUM <br /> <br />DATE: November 24, 2014 <br /> <br />TO: Honorable Mayor and City Council Members <br /> Patrick Klaers, City Administrator <br /> <br />FROM: Sue Iverson, Director of Finance and Administrative Services <br /> <br />SUBJECT: Resolution 2014-060: Resolution Accepting the Liability Coverage Limits <br />from the League of Minnesota Cities Insurance Trust (LMCIT) for 2015 <br /> <br /> <br />Background <br /> <br />Each year the City Council is required to decide whether or not to waive the statutory tort <br />liability limits to the extent of the coverage purchased. In past history, the City has not <br />waived the monetary limits on municipal tort liability established by Minnesota Statutes <br />466.04. (This would mean that the City accepts liability coverage limits of $2,500,000.) <br /> <br />Council Action <br /> <br />A motion to approve Resolution 2014-060, regarding no-waiver of the statutory liability <br />limits and accepting the liability coverage limits from the League of Minnesota Cities <br />Insurance Trust (LMCIT) for 2015. <br /> <br />Attachment <br /> <br />Attachment A: Resolution 2014-060