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Item No. 5.E. <br /> Meeting Date: October 15, 2024 <br /> T �� VfE-W <br /> Type of Business: Consent Agenda <br /> MOUNDS Administrator Review: <br /> City of Mounds View Staff Report <br /> To: Honorable Mayor and City Council <br /> From: Gayle Bauman, Finance Director <br /> Item Title/Subject: Resolution 9993 Electing to Retain the Statutory <br /> Tort Limit on Liability for the 2025 Insurance <br /> Policies <br /> Minnesota Statutes 466.04 provides a limit on municipal tort liability claims. Cities <br /> have the option of waving this limit if they purchase insurance policies with larger <br /> maximum coverage. There is no reason why the City of Mounds View should waive <br /> the statutory limit on tort liability. The City has never waived the limit on tort liability. <br /> Cities obtaining liability coverage from the League of Minnesota Cities Insurance <br /> Trust must decide whether or not to waive the statutory tort limit. The decision must <br /> be made by the City Council before the effective date of the coverage. The attached <br /> resolution declares that the City of Mounds View does not waive the statutory limit <br /> on tort liability. <br /> Respectfully Submitted, <br /> Gayle Bauman <br /> Finance Director <br />