HomeMy Public PortalAbout02376 O R D I N A N C E NO. 2376
AN ORDINANCE to set out the methods of providing
insurance coverage for damage to the District's property,
liability of the District and its agents, if any, surety bonds and
similar needs.
BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE
METROPOLITAN ST. LOUIS SEWER DISTRICT:
Section One. The Secretary-Treasurer of The
Metropolitan St. Louis Sewer District shall have the duty and
power to solicit bids for, and with the exception of awarding the
contract for insurance, shall manage and have the responsibility
for all insurance coverage including surety bonds, which is not
otherwise provided for. The Board of Trustees of The Metropolitan
St. Louis Sewer District shall have the right to award the
contracts for insurance or surety bonds.
Section Two. All insurance coverage that is the
subject of this Ordinance shall be obtained, wherever possible, on
competitive bids. The Secretary-Treasurer shall solicit bids from
at least three appropriate insurance agencies.
All bids shall be submitted sealed to the Secretary-
Treasurer. The bids shall be opened in public at the time and
place stated in the solicitation for bids. Any bid not in the
Secretary-Treasurer's hands at the time announced for the opening
shall be returned, unopened, to the bidder. A tabulation of all
bids received shall be available for public inspection, sent to
all bidders, and shall be reported to the Board by the Secretary-
Treasurer at its next meeting. The Board of Trustees shall award
the contract for such insurance. The Board of Trustees may reject
any or all bids when the public interest will be served thereby,
otherwise the contract shall be awarded to the lowest responsible
bidder. If two or more bids tie for low bid the Board shall
determine the successful bidder, considering the responsibility of
the bidder or any other pertinent elements.
Section Three. The Secretary-Treasurer shall cause
specifications to be made for each type of insurance coverage to
be obtained, which specifications shall accompany each request for
bid and each bid form supplied. Bid forms should also be made up
wherever practical and furnished with each request for bid.
Section Four. Contracts for insurance coverage shall
not be let for more than three (3) years unless specifically
authorized by the Board of Trustees in advance of the request for
bids, and specifically stated therein. Should such a contract be
let for less than three (3) years, at the discretion of the Board
of Trustees, it may be renewed to a maximum of three (3) years
from the initial letting without new bids being taken. However,
before any such renewal is approved by the Board of Trustees, new
quotations for the new premium shall be submitted to the Board.
Should the increase in premium offered for such renewal be more
than ten percentum (10%) of the premium for the current year, then
such contract shall not be renewed but shall be offered for bids
again as hereinabove set out. The foregoing Ordinance was adopted January 26, 1973.