HomeMy WebLinkAboutR-2012-119 Purchase of Flood Insurance from Hartford Insurance Co RESOLUTION NO. R — 2072-119
A RESOLUTION AUTHORIZING THE PURCHASE OF FLOOD INSURANCE FROM THE
HARTFORD INSURANCE COMPANY OF THE MIDWEST FOR PROPERTY LOCATED AT 1001
ARGOSY PARKWAY IN AN AMOUNT NOT TO EXCEED $71,721.00
WHEREAS, the City of Riverside has a need for flood insurance coverage at 1001 Argosy
Parkway; and
WHEREAS, the City of Riverside in the adoption of its purchasing policy requires all
expenditures in excess of $10,000 to be presented to the Board of Aldermen for approval and the
City's insurance carrier for flood insurance required at 1001 Argosy Parkway has presented an
invoice in the amount of $11,121 for such insurance coverage; and
WHEREAS, funds for such purpose were budgeted in the Fiscal Year 2012-2013 budget;
and
WHEREAS, the Board of Aldermen find it is in the best interest of the citizens of the City of
Riverside to authorize acquisition of such insurance coverage and approve the payment to Hartford
Insurance Company of the Midwest for flood insurance coverage for property located at 1001
Argosy Parkway, in an amount not to exceed $11,121.00.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE CITY
OF RIVERSIDE, MISSOURI, AS FOLLOWS:
THAT, the acquisition of such insurance coverage and payment to Hartford Insurance
Company of the Midwest for flood insurance coverage on property located at 1001 Argosy Parkway,
in an amount not to exceed $11,121.00 is hereby authorized and approved; and
FURTHER THAT the Mayor, City Administrator, or either of their designees, are hereby
authorized to execute all documents necessary or incidental to this transaction and the City Clerk is
authorized to attest thereto.
PASSED AND ADOPTED by the Board of Aldermen and APPROVED by the Mayor of
the City of Riverside, Missouri, the � day of September, 2012.
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Mayor Kathleen L. Rose
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Robin LiftreU, ��y.Clerk
Approv d as to Form:
c Th pson, City Attorney
Policy Number:99012806252012
k'LOOD POLICY DECLARATIONS
THE�'" Hartford Insurance Company of the Midweat
HART�ORD
1�p8: Renewal To report a claim call: (B00) 759-8656
Poliey Period: ov/os/zoi2 mo 09/OS/2013 Theae Declarationa are effective
Fot'Ill: General Property ae of� 09/OS/2012 at 12:01 Ah1
-_ Producer Name and Mailing Address: Inaured Name and Mailing Address:
- COWELL INSUIUNCB GROUP INC CITY OF RIVSR9ID8 hfI880URI
-- 10525 N AEf6A99A00R DR STE 301 $950 NW VIVION RD
: .w__,_ : ; RANSAS CITY, MO 66153-1384 RIVBRSIOS, Mo 64150-1502
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���'�, AgenUAgeucy#: 0366e-00000-000 Proeessed by: �
Reference#: Fiooa xnaurance Processing Center
PhOne#: (816)587-4d19 P•o• Box 2057 xalispell Mm 59903-a057
Iuaured Property Address: Covera�e LimitaUions bIap Apply, Refer to Your
iooi axcoar euerzwAY Flood Insurance Polic��for Details.
- RNBR9IOS� �f0 64150
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"� ; Btiildiug Descriptiou:
PrCinittm Payor: Ineured Non-Reaidential
��� Rated Zone: A Current Zoue: ona aloor
� ^ Slab On crade
�:�; COIDMtIllILy Nlltil))QC:29 0296 Q000 B RESTROOM9
�;N,l', COIIllrililllty N&1llQt RIVBRSIDE� CITY OF
?�.=. Grandfathered: No
roec-pixm conetruction Replacement Cost:
- Program Type: Reqular Number of Uuita: i
` �pe- _C�veeage _ Rates.�:: Deduct 6ti�..Sub��Tota1 '- _ prgmiumCaloulaExon ���- � �
`� B�� �� .soo i,000 � io,9ee oo Yi�ewiumStS�cjtal
_ S• 195,B00 6.190 / �, _ � ; ll� o�c.00
,`� Crnifbnts:, a soo ].850 .960 i o0o vi.00 1(tCPiQauum �.- s.00
Coqtents CR.SLhscounE � - .00
'� ' Ldcation: -- Loweat Floor Only Above _
< _ - cround Level �`edeial Po�oy;P'aa� ao.00
::pq ;
� Prolzatzou�ucctiarge _ .00
_ � �ri<7o�aeiuentr�moUnG.- .00
"�' Toie1 Pre Pufd:: ii,iai.00
S?sa —
First Mortgage: V Third Mortgage:
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� ' Secoud Mortgage: I'ourth Mortgage:
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This lleclaration Page, in conjunction with the polic,r, constih�tes poar P'lood Insurance Policy.
In 1'l'ITNESS �'SrI�CRI:Or, n�e have signed Chia policy below and herebp enter into this Insurance rlgreement,
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Andre A Napoli, Pres dent Terence Shi s, Secretary
99012806252013 OB/13/1034 XerlEord Iesurenu ComDeny of tAe NSdweat HICLOBO_IN6_IILOXP 000009763060
CITY OF
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Upstream from ordinary.
2950 NW Vivion Road
Riverside, Missouri 64150
MEMO DATE: 0831-12
AGENDA DATE: 09-04-12
TO: Mayor & Board of Aldermen
FROM: Robin Littrell
TITLE: A Resolution Authorizing the Purchase of Flood Insurance from the Hartford Insurance Company
of the Midwest for Property Located at 1001 Argosy Parkway in an Amount Not to Exceed
$11,121.00
BACKGROUND:
In compliance with our purchasing policy staff will be bringing all items exceeding $10,000 to the Board of Aldermen for
approval, including annual renewals. This process will help staff better track said expenses as well.
This resolution is to pay Hartford Insurance Company for flood insurance coverage of property for E.H. Young Park
located at 1001 Argosy Parkway.
This is a budgeted expenditure for the 2012-2013 fiscal year.