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Agenda Item #7 <br />Staff Originator: Randy Schumacher <br />Date: June 19, 1996 <br />Topic: Consideration of waiving or not waiving monetary limits on tort <br />liability per Minnesota Statute 466.04. <br />Each year, the City has the option of waiving its monetary limits on tort liability to the <br />extent of the limits of the excess liability coverage obtained from the League of <br />Minnesota Cities Insurance Trust. This limit of liability insurance is currently <br />$600,000.00 per each occurrence or incident. <br />The City of Lino Lakes does carry an additional $1,000,000.00 in excess liability <br />coverage($1,000,000.00 per occuree and annual limit) in the event that the limits were <br />ever declared to be unconstitutional. <br />The City of Lino Lakes has never waived its monetary limits on tort liability. <br />INN <br />The City of Lino Lakes does not choose to waive its monetary limits on tort <br />liability established by Minnesota Statutes 466.04. <br />b. The City of Lino Lakes chooses to waive its monetary limits on tort liability to the <br />extent of the limits of the excess liability coverage obtained from the League of <br />Minnesota Cities Insurance Trust. <br />1111111M1 <br />Recommend option a. <br />