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CONSENT ITEM – 5D <br /> <br /> <br />City Council Meeting <br />P:\Admin\Council\Agendas & Packet Information\2016\12-12-16- <br />R\Sue\LMCIT\2017_Liability_Coverage_Limits.doc <br />Page 1 of 1 <br /> <br />MEMORANDUM <br /> <br />DATE: December 12, 2016 <br /> <br />TO: Honorable Mayor and City Council Members <br /> <br />FROM: Sue Iverson, Interim City Administrator/Director of Finance and <br />Administrative Services <br /> <br />SUBJECT: Resolution 2016-037 Accepting the Liability Coverage Limits from the <br />League of Minnesota Cities Insurance Trust (LMCIT) for 2017 <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 2016-037, 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 2017. <br /> <br />Attachment A: Waiver Form <br />Attachment B: Resolution 2016 – 037