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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.