HomeMy Public PortalAbout04012 O R D I N A N C E NO. 4012
AN ORDINANCE, appropriating Eighteen Thousand One
Hundred Twenty-five Dollars ($18,125.00) from the General Fund of
the District to be used for the increased deposit premium of the
District's Real Property Insurance coverage from March 1, 1980 to
March 1, 1981.
WHEREAS, the current carrier of the District's Real
Property Insurance coverage requires the increase of the blanket
coverage by Twelve Million Five Hundred Thousand Dollars
($12,500,000.00) to reflect increased construction costs, since
the policy is for replacement cost coverage; and
WHEREAS, this increase in coverage results in a deposit
premium increase of Eighteen Thousand One Hundred Twenty-five
Dollars ($18,125.00) for the policy year, with a net cost of Three
Thousand Three Hundred Seventy-one Dollars and Twenty-five Cents
($3,371.25) and an effective return of the balance thereof.
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES
OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT:
Section One. The sum of Eighteen Thousand One Hundred
Twenty-five Dollars ($18,125.00) is hereby appropriated from the
unappropriated balance of the General Fund to be used for payment
of the increased deposit premium for the District's Real Property
Insurance coverage from March 1, 1980 to March 1, 1981.
Section Two. This ordinance, being an appropriation
ordinance, shall take effect immediately upon its enactment.
The foregoing Ordinance was adopted April 23, 1980.