1986-0711407L
NO
AN ORDINANCE APPOINTING WM RIGG CO AS THE BROKER OF RECORD FOR
THE CITY OF DENTON FOR CERTAIN EXCESS INSURANCE COVERAGES,
APPROVING THE PAYMENT FOR EXCESS INSURANCE COVERAGE FOR THE
POWER PLANT, PROVIDING AN EFFECTIVE DATE
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS
WHEREAS, Section 2(g) of Article 2368a, V A T S , provides
that a city may select a licensed insurance broker as the sole
broker of record to obtain proposals and coverages for excess or
surplus insurance which provides necessary coverage provisions
and adequate limits of coverage in structuring layered excess
coverages in all areas of risk requiring special consideration,
and
WHEREAS, the City Council, upon the recommendation of the
City Manager and Director of Finance, has determined that the
City of Denton should appoint Wm Rigg Co as the City's broker
of record for excess coverages on the Power Plant and wishes to
authorize the expenditure of funds therefore, NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF DENTON
SECTION I
That the City Manager is hereby authorized to execute the
attached letter appointing Wm Rigg Co as the City's broker
SECTION II
That the sum of Sixty-eight Thousand and Forty Dollars
($68,040 00) is hereby authorized for the purchase of excess
insurance coverage for the Power Plant and the sum of Seven
Thousand Five Hundred and Sixty Dollars ($7,560 00) is hereby
authorized to be paid for the services of Wm Rigg Co in this
regard
SECTION III
That this ordinance shall become effective immediately upon
its passage and approval
PASSED AND APPROVED this the day of April, 1986
I
H
0
ST VA MAYOR- U
CI
Y
OF D ,Y
NTON, TEXAS
ATTEST
C
RLO
EN,
CITY Sfi RET Y
C
Y OF
"NTON,
TEXAS
APPROVED AS TO LEGAL FORM
DEBRA ADAMI DRAYOVITCH, CITY ATTORNEY
CITY OF DENTON, TEXAS
BY ~s~ 4~u Q,LII `LY_t~ G( .
WrYof DENTON rffXAS MUNICIPAL BUILDING / DENTON, TEXAS 76201 /TELEPHONE (817) 566 8200
April 2, 1986
TO WHOM IT MAY CONCERN
Please recognize the Wm Rigg Company as our broker of record
for excess insurance coverages on the Denton Power Plant, with
the understanding that Wm Rigg Co shall not receive
remuneration from any other source
This letter rescinds any letter previously filed and shall
remain in force until revoked in writing
Very t
.pply yours,
Llotd V Harrell
City Manager /
LVH js