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Pg.2 <br /> <br />· 2002 PREMIUM REDUCED TO $196,552 BY CHANGING TO $1,000 DEDUCTIBLE - INCREASE REDUCED TO APPROX.2.1% <br /> <br />CHANGES RESULTING IN PREMIUM INCREASE IN 2003: <br /> <br />INCREASE IN PROPERTY SCHEDULE OF ABOUT $17,800,000 - PROPERTY PREM INCREASE OF APPROX. $15,100 INCLUDING- <br /> <br />A) ADDITION OF LIQUOR STORE PROPERTY FOR $1.3 MILLION - ADD'L. $ 3,150 IN PREMIUM <br />B) PUBLIC SAFETY CENTER & CITY HALL ADDITION ADDED TO SCHEDULE - APPROX $10,000,000 IN VALUE & APPROX. INC. OF $5,415 <br />C) MOBILE EQUIPMENT INCREASE IN VALUE RESULTING IN ABOUT $1,000 INCREASE IN PREMIUM <br />D) MAXIMUS PROPERTY APPRAISALS COMPLETED RESULTING IN INCREASED PROPERTY VALUES ACROSS THE PROPERTY SCHEDULE OF <br /> APPROXIMATELY $5 MILLION & CORRESPONDING PREMIUM INCREASE OF ABOUT $4,500 <br />E) LANDFILL GENERATION FACILITY MOVED FROM BUILDER'S RISK STATUS TO COMPLETED & IN USE - RESULTS IN FULL CHARGE FOR THE <br /> FACILITY, OR ABOUT ANOTHER $ 850 OVER LAST YEAR <br /> <br />2) $15,450,000 INCREASE 1N VALUES INSURED UNDER EQUIPMENT BREAKDOWN COVERAGE - ADDL PREM OF APPROX. $2,400 <br />3) INCREASE IN RATEABLE OPERATING EXPENDITURES OF ABOUT $830,000, E & O, EXPOSURE, UTILITY EXPOSURES - RESULTS IN PREMIUM INCREASE <br /> FOR MUNICIPAL LIABILITY OF $27,170 <br />4) ADDED LIQUOR LIABILITY FOR ADDITIONAL PREMIUM THIS YEAR OF $ 8,210 <br />5) NO CHARGE MADE FOR CITY ATTORNEY IN LAST YEAR'S PROPOSAL (ERROR) -THIS YEAR'S CHARGE IS $ 637 <br />6) AVERAGE PROPERTY RATE INCREASE OF ABOUT 10% DUE TO REINSURANCE COSTS FOR LMCIT PROGRAM <br /> <br />10/16/03me <br /> <br /> <br />