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O R D I N A N C E NO. 9436
AN ORDINANCE, awarding a contract to United Coastal Insurance
Company (Johnson & Higgins, Inc., agent) for the District's Sewer Line Backup
Insurance coverage from January 1, 1995 to January 1, 1996, with an emergency
clause.
BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE METROPOLITAN ST.
LOUIS SEWER DISTRICT:
Section One. The United Coastal Insurance Company, who submitted a
quote for the District's Sewer Line Backup Insurance coverage, with an annual
aggregate limit of One Million Dollars ($1,000,000.00) which is in excess of
the first Seven Hundred Thousand Dollars ($700,000.00) of claims, with a Ten
Thousand Dollars ($10,000.00) deductible per claim, at a premium of Three
Hundred Forty Thousand Dollars ($340,000.00) for such policy period, is hereby
awarded the contract for such insurance coverage from January 1, 1995 to
January 1, 1996. The premium amount as hereinabove stated is subject to audit
adjustment.
Section Two. The insurance coverage, as hereinabove awarded, is
necessary to avoid undue hardship to the citizens of the District, and must be
established without delay, thus creating an emergency within the meaning of the
Plan. Accordingly, this ordinance shall take effect immediately upon its
enactment.
The foregoing Ordinance was adopted December 8, 1994.