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4 -- <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 /> May 10, 2016 2.4 <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 <br /> approval of the Utilities' intent to waive or not waive the statutory limits on tort liability as set <br /> forth in Minnesota Statutes. <br /> DISCUSSION: Attached is information regarding making a decision on whether to elect not to <br /> waive, or to waive, the statutory limits. Last year we did not waive the limits, and neither did the <br /> City. At the April 18, 2016 City Council meeting, they elected to not waive the limits for this <br /> year as well. The recommendation we have received from our insurance agent is not to waive the <br /> limits. <br /> ACTION REQUESTED: <br /> Staff recommends the adoption of the attached resolution electing not to waive the statutory tort <br /> limits for liability insurance, per the attached LMCIT Liability Coverage Waiver Form. <br /> ATTACHMENTS: <br /> • Resolution No.16-3 —Electing Not to Waive the Statutory Tort Limits for Liability <br /> Insurance <br /> • LMCIT Liability Coverage Waiver Form <br /> • LMCIT Liability Coverage Guide <br /> POWERED 11 <br /> Page 1 of 1 NATURE <br /> Reliable Public <br /> Power Provider P OWERED T 0 S ERV E <br /> 52 <br />