09/12/2006 Resolutions 2006-244
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RES 0 L UTI 0 N 2006-244
WHEREAS, the City's Utility Department subscribes to insurance for boiler and
machinery and property peril and fire coverage; and
WHEREAS, the City of Grand Island invited proposals for the renewal ofthe boiler
and machinery insurance in accordance with the City's Purchasing Code; and
WHEREAS, the insurance of electric and water utilities facilities is a specialized
market with a limited number of potential providers; and
WHEREAS, valuation adjustments resulted in an increased total insured value of
property from the present amount of $320,968,000.00 to $330,222,703.00;
WHEREAS, only one proposal was received, that being from the current provider,
Factory Mutual Insurance Co. of S1. Louis, Missouri, in the amount of $367,507.00; and
NOW, THEREFORE, BE IT RESOL VED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that the proposal of Factory Mutual Insurance Co.
of S1. Louis, Missouri, in the amount of $367,507.00 is hereby approved.
Adopted by the City Council of the City of Grand Island, Nebraska, September 12,2006.
Attest:
Qof\cu- ~Dl~~,
RaNae Edwards, City Clerk
Approved as to Form lJ
September 8, 2006 lJ City Attorney