Loading...
HomeMy Public PortalAbout11274 O R D I N A N C E NO. 11274 AN ORDINANCE, awarding a contract to Greenwich Insurance Company for the District’s Blocked Main Sewer Line Backup Insurance and Overcharged Sewer Line Backup Insurance coverage from July 1, 2002 to June 30, 2003, with an emergency clause BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT: Section One. Greenwich Insurance Company, who submitted a combined quote for the District’s Blocked Main Sewer Line Backup Insurance coverage, with an annual combined aggregate retention of Two Million Three Hundred Thousand ($2,300,000.00), and a combined aggregate limit of Ten Million Dollars ($10,000,000.00) in excess of claims, with a Fifteen Thousand Dollar ($15,000.00) deductible per claim for such policy period; and the District’s Overcharged Sewer Line Backup Insurance coverage with the same policy aggregate and limit as hereinabove stated, and a per claim limit of Two Thousand Dollars ($2,000.00) with a One Hundred Dollar ($100.00) deductible per claim; at a combined premium of Seven Hundred Forty-two Thousand ($742,000.00) for such policy period is hereby awarded the contract for such insurance coverages from July 1, 2002 to June 30, 2003. Section Two. The insurance coverage as herein awarded is essential for the operation of the District and for the protection of the public; and must be extended without delay, thus creating an emergency within the meaning of the Charter of the District. Accordingly, this ordinance shall take effect immediately upon its enactment. The Foregoing Ordinance was adopted June 26, 2002 by the following vote- Ayes – T.W. Purcell, M.G. Reichert, A.J. Soukenik, C.D. Seward, and M.C. Williams. Nays – None. Secretary-Treasurer