HomeMy WebLinkAboutM2015-125 - 10/27/2015 I Corpus Christi 1201 Leopard Street
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-,r• October 27, 2015
°0.'"4 '` Motion: M2015-125
File Number: 15-1172 Enactment Number: M2015-125
Motion directing staff to request that Carlisle Insurance extend the annual fee it proposed for Year 1 of Broker of
Record Services ($45,000,to be reduced by the National Flood Insurance Premiums, with an estimated net annual
fee of$24,135)to the full 5-year potential extension period, and, in the event of such fee extension, authorizing
staff to execute a service agreement with said entity obligating the City for Year 1, subject to extension for annual
periods after the first year at said fee amount only if the overall insurance rates obtained for property insurance
are maintained at a level the same as or lower than the current overall property insurance rates. If Carlisle
Insurance refuses to extend the annual fee it proposed for Year 1 of Broker of Record Services through the 5-year
extension period,then staff is authorized to execute a service agreement with Borden Insurance and McGriff,
Seibels&Williams obligating the City for Year 1, subject to extension for annual periods after the first year at its
proposed fee amount of$27,700 only if the overall insurance rates obtained for property insurance are maintained
at a level the same as or lower than the current overall property insurance rates.
At a meeting of the City Council on 10/27/2015, this Motion was passed as substitute.
Aye: 9 Mayor Martinez, Council Member Garza, Council Member Magill, Council
Member McIntyre, Council Member Riojas, Council Member Rubio, Council
Member Rosas, Council Member Scott, and Council Member Vaughn
Abstained: 0
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Nelda Martinez, Mayor f
Attest: rl
Rebecca Huerta, City Secretary
Corpus Christi Printed on 11/5/15
INDEXED
CITY OF CORPUS CHRISTI
CERTIFICATION OF FUNDS
(City Charter Article IV, Sections 7 &8)
I, the Director of Financial Services of the City of Corpus Christi, Texas (or his/her duly authorized
representative), hereby certify to the City Council and other appropriate officers that the money required
for the current fiscal year's portion of the contract, agreement, obligation or expenditure described
below is in the Treasury to the credit of the Fund specified below, from which it is to be drawn, and has
not been appropriated for any other purpose. Future payments are subject to annual appropriation
by the City Council.
City Council Action Date: October 27, 2015
Agenda Item:
Motion directing staff to request that Carlisle Insurance extend the annual fee it proposed
for Year 1 of Broker of Record Services ($45,000, to be reduced by the National Flood
Insurance Premiums, with an estimated net annual fee of $24,135) to the full 5-year
potential extension period, and, in the event of such fee extension, authorizing staff to
execute a service agreement with said entity obligating the City for Year 1, subject to
extension for annual periods after the first year at said fee amount only if the overall
insurance rates obtained for property insurance are maintained at a level the same as or
lower than the current overall property insurance rates. If Carlisle Insurance refuses to
extend the annual fee it proposed for Year 1 of Broker of Record Services through the 5-
year extension period, then staff is authorized to execute a service agreement with
Borden Insurance and McGriff, Seibels &Williams obligating the City for Year 1, subject
to extension for annual periods after the first year at its proposed fee amount of$27,700
only if the overall insurance rates obtained for property insurance are maintained at a
level the same as or lower than the current overall property insurance rates.
Amount Required: $24,135.00
Fund Name Accounting Unit Account No. Activity No. Amount
Liab/EB Liab 5611-40525-005 530000 $24,135.00
Total $24,135.00
❑ Certification Not Required
Director of Financial Services
Date:
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