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N <br /> 'i0 <br /> Elk River <br /> Municipal Utilities UTILITIES COMMISSION MEETING <br /> TO: FROM: <br /> Elk River Municipal Utilities Commission Theresa Slominski, Finance and Office Manager <br /> John Dietz—Chair <br /> Al Nadeau—Vice Chair <br /> Daryl Thompson—Trustee <br /> MEETING DATE: AGENDA ITEM NUMBER: <br /> June 11, 2013 2.7 <br /> SUBJECT: <br /> Resolution Electing Not to Waive Statutory Tort Limits for Liability Insurance <br /> BACKGROUND: The League of Minnesota Cities Insurance Trust(LMCIT) requires annual approval of <br /> the Utilities' intent to waive or not waive the statutory limits on tort liability as set forth in Minnesota <br /> Statutes. <br /> DISCUSSION: Attached is the memo and supporting documentation that went to the City Council to <br /> elect not to waive the statutory limits. I have no reason to recommend that the Utility not follow the same <br /> direction. Additionally, per our insurance agent,the LMCIT reports that 82%of their insured elect to not <br /> waive the statutory limits. <br /> ACTION REQUESTED: <br /> Staff recommends that the Elk River Municipal Utilities Commission elect to not waive the statutory tort <br /> limits for liability insurance, per the attached resolution and LMCIT form. <br /> Rn POIEOEI Ii <br /> ■� 3 Page 1 of 1 NATURE <br /> Reliable Public <br /> Power Provider <br />