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<br /> <br />LMC <br /> <br />League of Minnesota CItIes <br />Insurance Trust <br />3A5 Unlversl\fAvenue West, st Paul, MN 55103-2044 <br />(651) 281.1200 · (800) 925-1122 <br />Fax: (651) 281-1298 · TOO: (651) 281-1290 <br />. www.lmnc.org <br /> <br />I,..g- 0/01. ~~ c.:tN.rs <br />0'I:lirs ,..~ .....a-, <br /> <br />December 15, 2004 <br /> <br />To: Mayors aild council members ofLMCIT member cities <br /> <br />From: LMCIT Board of Trustees <br /> <br />Les Heitke, Mayor, Willmar Sherry Butcher, City Council, Eden Prairie <br />Joel Hanson, City AdministratQr, Little ~ Brenda Johnson, City Council, Chatfield <br />Todd Prafke', City Admiiiistratot, SC'Petef' .' . . JifuMiller~ EXecutive Director, LMC' , <br />Paul Sparks, Executive Director, Albert Lea Port AuthOrity <br /> <br />The LMClT property/casualty program is again this year returning $9 million to member cities <br />as a dividend. This is the eighteenth stralght year that LMCIT has been able to return a dividend <br />_ to member citi~, 8Jld it brings the total to $17~ .million since 1987. <br /> <br />-- <br /> <br />LMCIT Dividends <br />$175 Million Since 1987 <br /> <br />$25,000,000 <br /> <br /> <br />$20,000,000 .......... ............ .............. ......' ....... ......... ..... ............. ...... .......... ........ ....... <br /> <br /> <br />$15,000,000 ..........'.. ..... ............... ......... .......... ..... ............ ..... .............. ............. <br /> <br />$10,000.000 ...~........- ..eo .....-.......... <br /> <br />$5,000,000 <br /> <br />I <br />I <br /> <br />$0 '87 '88 '89 '90 '91 '92 '93 '94 '95 '96-"'97 '98 '99 '00 '01 '02 '03 '04 I <br />I <br />I <br />.J <br /> <br />,- Property/casualty' 1.1 Work COOiPl <br /> <br /> <br />The reason LMCIT is able to return a dividend is simple: Member cities have kept losses below <br />the level that the premiums w~ desigIled to'fund. That's paid offnot oiilym dividends but in <br />lo~er premiums ~ well. Liability prem.il:UD: ~e.s ~~:npwa third lower ~they were ten years . .'. <br />ago. Property premium n.s.tes aie about the same ~ they were in 1992,. and.; the~vera.ge ~. now::. '. <br />much bl'C!a4er! Jt:'s.~ ~eme.n4()~ ~uccess.~ry,8J1.d'~:~~Qta..q~ty...9f;fi,~ials YOJl'~~o~d,~ be; '. <br />very proud of what you've accomplished by working together through LMCIT. <br /> <br />AN EQUAL OPPORTUNITY/AFFIRMATIVE ACTION EMPLOYER <br />