HomeMy WebLinkAboutR-2014-087 - Approved Purchase of Flood Insurance from American Bankers Insurance Company of Florida & Wright National Flood Insurance Company for a total of $41,938.00 RESOLUTION NO. 2014-087
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DANIA
BEACH, FLORIDA, AUTHORIZING THE PROPER CITY OFFICIALS TO
PURCHASE FLOOD INSURANCE FROM AMERICAN BANKERS
INSURANCE COMPANY OF FLORIDA IN THE AMOUNT OF $8,952.00
AND FROM WRIGHT NATIONAL FLOOD INSURANCE COMPANY IN
THE AMOUNT OF $27,100.00; PROVIDING AN ADDED FUNDING
APPROPRIATION OF $5,886.00 FOR POSSIBLE ADDED COVERAGE
COSTS FOR POSSIBLE CITY PROPERTY ADDITIONS DURING THE
FISCAL YEAR 2014-2015, FOR A COMBINED TOTAL AMOUNT OF
$41,938.00, FOR THE PERIOD EXTENDING FROM OCTOBER 1, 2014
THROUGH SEPTEMBER 30, 2015; PROVIDING FOR CONFLICTS;
FURTHER, PROVIDING FOR AN EFFECTIVE DATE.
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF DANIA
BEACH,FLORIDA:
Section 1. That the proper City officials are authorized to purchase flood insurance
from American Bankers Insurance Company of Florida in the amount of $8,952.00 and from
Wright National Flood Insurance Company in the amount of$27 100.00 for a combined total of
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$36,052.00, for the period extending from October 1, 2014 through September 30, 2015 (due to
fluctuation in insurance costs, there is a differential of$5,886.00 added into the total possible
cost of the insurance from the two companies, in order to supplement the flood insurance costs, if
and when the City acquires additional property or property values increase during the year).
Section 2. The funds to purchase the flood insurance for the fiscal year beginning
October 1, 2014 from American Bankers Insurance Company of Florida and from Wright
National Flood Insurance Company were appropriated and are available in General Fund,
General Services—Insurance Coverage account No. 001-18-00-519-45-10.
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are repealed to the extent of such conflict.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 become effective immediately upon its passage
and adoption.
PASSED AND ADOPTED on September 23, 2014.
ATTEST: lox)
1
LOUISE STILSON, CMC WA ER B. DUKE, III
CITY CLERK l MAYOR
ATED 19�`
APPROVED AS TO F RM AND CORRECTNESS:
THO S J. BR
CITY ATTORNEY
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