HomeMy Public PortalAbout02485 O R D I N A N C E NO. 2485
AN ORDINANCE awarding a contract to the Connecticut
General Life Insurance Company for the District's Reversionary
Annuity Benefit Contract (Widows' Benefit Insurance) from October
1, 1973, to a date no later than September 30, 1976, with an
emergency clause.
WHEREAS, bids were solicited from ten (10) insurance
companies for such Reversionary Annuity Benefit Insurance, but the
only bid submitted was from the current carrier and continuing its
current rates,
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES
OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT:
Section One. The Connecticut General Life Insurance
Company, who submitted the only bid for the District's
Reversionary Annuity Benefit Contract (Widows' Benefit Insurance)
when the bid was received and opened on September 19, 1973, at
10:00 a. m. at the District's offices by the Secretary-Treasurer,
at and for the current premium rate of approximately Twenty-five
Thousand Dollars ($25,000.00) per annum, is hereby awarded the
contract for such Reversionary Annuity Benefit Contract from
October 1, 1973 to a date no later than September 30, 1976.
Section Two. This Ordinance being for the award of a
contract for the District's Reversionary Annuity Benefit Insurance
and this being necessary for the protection of the District's
employees, constitutes an emergency within the meaning of the
Plan, and this Ordinance shall be and become effective immediately
upon its adoption.
The foregoing Ordinance was adopted September 26, 1973.