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<br />~ <br />~HILLS <br /> <br />MEMORANDUM <br /> <br />DATE: January 14, 2008 <br /> <br />TO: Honorable Mayor and City Council Members <br /> <br />FROM: Sue Iverson, Finance Director <br /> <br />SUBJECT: Resolution 2008,002: Resolution Accepting the Liability Coverage Limits from <br />the League of Minnesota Cities Insurance Trust (LMCIT) <br /> <br />Background <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 does not waive <br />the monetary limits on municipal tort liability established by Minnesota Statutes 466.04. <br /> <br />Staff Recommendation <br />Staff recommends a motion to approve Resolution 2008-002, accepting the liability coverage <br />limits from the League of Minnesota Cities Insurance Trust (LMCIT). New statutory limits are <br />effective on January I, 2008; these are included in the resolution and the insurance <br />documentation. <br /> <br />\\Metro~inet\ardenhills\Admjn\Assjstant City Administrator\NoahVan 14 Council\2008 Insurance Liability Memo.doc <br />