HomeMy Public PortalAbout11530 O R D I N A N C E NO. 11530
AN ORDINANCE, awarding a contract to Indian Harbor Insurance
Company for the District’s Blocked Main Sewer Line Backup Insurance and
Overcharged Sewer Line Backup Insurance coverage from July 1, 2003 to June
30, 2004, with an emergency clause.
BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE
METROPOLITAN ST. LOUIS SEWER DISTRICT:
Section One. Indian Harbor Insurance Company, who submitted a
combined quote for the District’s Blocked Main Sewer Line Backup Insurance and
Overcharged Sewer Line Backup Insurance coverage, with an annual aggregate
retention of Nine Hundred Fifty Thousand Dollars ($950,000.00) for overcharged
sewer lines and an aggregate limit of Ten Million Dollars ($10,000,000.00) in
excess of claims, with Twenty-Five Thousand Dollars ($25,000.00) deductible per
claim for blocked main sewer lines 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
Five Hundred Dollars ($2,500.00) with a One Hundred Dollars ($100.00)
deductible per claim; at a combined premium of Seven Hundred Three Thousand
Six Hundred Eighty-four Dollars ($703,684.00) for such policy period is hereby
awarded the contract for such insurance coverage from July1, 2003 to June 30,
2004.
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 25, 2003.