HomeMy WebLinkAboutR-2014-043 Authorized payment for the Purchase of Insurance for the New Marina Docks not to exceed $63,003.54 from Great Lakes Reinsurance RESOLUTION NO. 2014-043
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DANIA
BEACH, FLORIDA, RELATING TO THE PURCHASE OF INSURANCE FOR
THE NEW MARINA DOCKS; AUTHORIZING THE PAYMENT IN AN
AMOUNT NOT TO EXCEED $63,003.54 AND AUTHORIZING THE PROPER
CITY OFFICIALS TO SECURE COVERAGE FOR THE NEW MARINA
DOCKS; PROVIDING FOR CONFLICTS; FURTHER, PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, the City's property and liability insurance broker, Public Risk Insurance
Agency (PRIA), obtained three (3) policy options for insurance coverage of the new Marina
Docks; and
WHEREAS, City Administration reviewed policy options and pricing for insurance
coverage in consultation with PRIA, and Westrec Marinas, the Marina operator for the City, and
they recommend the following ranking of options:
Name Annual Cost
1. Great Lakes Reinsurance $63,003.54
2. Preferred Governmental Insurance $42,959.00
3. Landmark American Insurance $123,750.00; and
WHEREAS, City Administration reviewed all options and recommends the above
ranking, and further recommends that the new Marina Docks' insurance coverage be secured
with Great Lakes Reinsurance in an amount not to exceed$63,003.54.
NOW,THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF DANIA BEACH,FLORIDA:
Section 1. That the above "Whereas" clauses are approved, ratified, and made a part
of and incorporated into this Resolution by this reference.
Section 2. That the City Commission approves the purchase and payment for
insurance coverage for the new Marina Docks in an amount not to exceed $63,003.54. This cost
has been anticipated and budgeted in the amount of $62,170.00 in the Marina Fund, allowing
these costs to be charged to the Marina Fund, Insurance Account, Account No. 406-72-09-575-
45-10.
Section 3. That all resolutions or parts of resolutions in conflict with this Resolution
are repealed to the extent of such conflict.
Section 4. That this Resolution shall be in force and take effect immediately upon its
passage and adoption.
PASSED AND ADOPTED on May 27, 2014.
ATTEST:
LOUISE STILSON, CMC WALTER DUKE III
CITY CLERK MAYOR
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APPROVED AS TO FO AND CORRECTNESS: m .�
THOMN9 J. SBRO
CITY ATTO EY
2 RESOLUTION#2014-043