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<br />It should also be noted that on page 26, our agent provides a quote for excess liability <br />insurance coverage. This is a policy that Mounds View has never purchased before and <br />it would cost an additional $24, 018 to add it now. In the current budget situation, this <br />would be very difficult to do. <br /> <br />Since the LMCIT is owned by its member cities, it repays a dividend to them each year <br />based upon it operating results. Past dividends for the City of Mounds View are listed on <br />page 27. <br /> <br />The attached Resolution 6081 authorizes staff to enter into these policies and make <br />payment of the premiums as they become due. <br /> <br /> <br />Respectfully submitted, <br /> <br /> <br />________________________ <br />Charles Hansen, Finance Director <br /> <br /> <br /> <br /> <br /> <br />Reviewed by City Administrator: ________ <br /> <br /> <br />