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HomeMy WebLinkAbout02-071 . . . . CITY OF ARDEN HILLS COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION NO. 02-71 A RESOLUTION ACCEPTING THE LIABILITY COVERAGE LIMITS FROM THE LEAGUE OF MINNESOTA CITIES INSURANCE TRUST (LMCIT) WHEREAS, the City of Arden Hills DOES NOT W AlVE the monetary limits on municipal tort liability established by Minnesota Statutes 466.04, THEREFORE, BE IT RESOLVED: The City of Arden Hills accepts liability coverage limits of two million dollars ($2,000,000,00) from the League of Minnesota Cities Insurance Trust (LMCIT) for calendar year 2003. ADOPTED BY THE CITY COUNCIL OF THE CITY OF A EN HILLS THIS 16th DAY OF DECEMBER, 2002. if ! DE~NIS ATTEST: . . . . . " LMCIT LIABILITY COVERAGE - WAIVER FORM Cities obtaining liability coverage from the League of Minnesota Cities Insurance Trust must decide whether or not to waive the statutory tort liability limits to the extent of the coverage purchased. The decision to waive or not to waive the statutory limits has the following effects: If the city does not waive the statutory tort limits, an individual claimant would be able to recover no more than $300,000.on any claim to which the statutory tort limits apply. The total which all claimants would be able to recover for a single occurrence to which the statutory tort limits apply would be limited to $1,000,000. 'These statutory tort limits would apply regardless of whether or not the city purchases the optional excess liability coverage. If the city waives the statutory tort limits and does not purchase excess liability coverage, a single claimant could potentially recover up to $1,000,000. on a single occurrence. The total which all claimants would be able to recover for a single occurrence to which the statutory tort limits apply would also beJimited to $1,000,000., regardless of the number of claimants, . If the city waives the statutory tort limits and purchases excess liability coverage, a single claimant could potentially recover an amount up to the limit of the coverage purchased. The total which all claimants would be able to recover for a single occurrence to which the statutory tort limits apply would also be limited to the amount of coverage purchased, regardless of the number of claimants. Claims to which the statutory municipal tort limits do not apply are not affected by this decision. This decision must be made by the city council. Cities purchasing coverage must complete and return this Jorm to LMCIT before the effective date of the coverage. For further information, contact LMCIT. You may also wish to discuss these issues with your city attorney. The City of Ifytiuf ;/1/1 accepts liability coverage limits of$ -z..JtJtJ0~t'~ Minnesota Cities InsuIanceTrust (LMCIT). .. ' , from the League of Check one: .L The city DOES NOT WAIVE the monetary limits on municipal tort liability established by Minnesota Statutes 466.04. _ The city WAIVES the monetary limits on tOrt liability established by Minnesota Statutes 466.04, to the extent of the limits of the liability coverage obtained from LMCIT. Date of city council meeting t!J~ / ~ I ;JtJtJr Sign&mltr~~ P"itioo;:J~ W'd-U-v/~ Return this completed form to LMC1T, 145 University Ave. W, St. Paul, MN. 55103-2044 Page 1 of 1