HomeMy WebLinkAboutOrdinance 7947 ORDINANCE NO. / q
AN ORDINANCE APPROPRIATING ADDITIONAL REVENUE
OF THE CITY IN EXCESS OF ITS TOTAL BUDGETED
INCOME AS SET FORTH IN THE ANNUAL BUDGET FROM
ADDITIONAL REVENUES AND UNAPPROPRIATED SURPLUS,
INCREASING THE APPROPRIATION IN THE CITY SELF-
INSURANCE FUND OF THE GENERAL FUND (90-15-00)
BY $50,000; PROVIDING A SEVERABILITY CLAUSE,
MAKING THIS ORDINANCE CUMULATIVE OF PRIOR
ORDINANCES; REPEALING ORDINANCES IN CONFLICT
HEREWITH; AND PROVIDING AN EFFECTIVE DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH,
TEXAS:
SECTION 1.
That the City Manager of the City of Fort Worth shall be
provided with such revenue as may be secured from the various sources
included in Ordinance No. 7787 and in the budget of the City Manager;
and in addition thereto there is hereby appropriated the additional
sum of Fifty Thousand and No/100 Dollars ($50,000) from additional
revenues and unappropriated surplus to the account of the General
Fund (90-15-00) for the payment of additional expenses incurred in
the City Self-Insurance Fund.
SECTION 2.
Should any part, portion, section or part of a section of
this ordinance be declared invalid or inoperative or void for any
reason by a court of competent jurisdiction, such decision, opinion
or judgment shall in no way affect the remaining portions, parts,
sections or parts of sections of this ordinance, which provisions
shall be, remain and continue to be in full force and effect.
SECTION 3.
That this ordinance shall be cumulative of Ordinance
No. 7787, but all other ordinances and appropriations for which
provision has been heretofore made are hereby expressly repealed if
in conflict with the provisions of this ordinance.
SECTION 4.
That this ordinance shall take effect and be in full force
and effect from and after the date of its passage, and it is so ordained.
�AOROV AS 0
YbO AND ^LEGALITY:
City Attdrtrey
ADOPTED: A'A.
EFFECTIVE:
DATE REFERENCE'° SUBJECT. PAGE
a NUMBER Tabulation of Bids for Purchase
of Materials Equipment and Service 14 _ Off
r° "379 -1324 • 9 p
c'r K EE YEAR FIDE AND EXTENDED COVERAGE I14S'0MCE PREMIUM FOR CITY OF FORT WORIM
BUILDINGS AND CONTE NTS, PER CITY SPECIFICATIONS.
AC $100,000 Deductible, $250,000 DeductiblIew
Bidders L98,671,000 Value 93 37 1,. 00'0 j&L.wA
1) Shannon & associates $123,726.00 $ 85,890.00
"'T'he National Surety Corporation"
2) Wm. Sigg Company 134,271.00 100,841.00
"Aetna Life & Casualty Company"
3) Alexander S Alexander of Texas, Inc. 134,273.00 101,072.00
"Aetna Life & Casualty Company
4) Marsh & McLennan, Inc. 140,604.00 1191,792.00
"` ya,1-Clobe Insurance"
Bid invitations were mailed to 34 prospective bidders.
Last Premium: August 16, 1976
This Bid Last Bid
$12,3,726 ($98,671,000 $89,174 ($53,764,,400
coverage) coverage)
Shannon & Associates is the low bidder on bath the coverage with $100,000 de-,
dudtible and the alternate proposal with $250,000 deductible. The preakiln, savings
on the larger deductible policy ($250,000) is $37,836 for three years or slightly
less than $13,0100 per year. The staff does not consider the savings of $13,000
e year to ustif',y the increased exposure on this amount of insurance (98,671,000
F ll �in
Commercial insurance premiums are generally paid out of the City Self.-Insurance
Fund from amounts which have accumulated y„t annual contributions from t hose fl ds
receiving coverage. Presently, the a, $74,000 remaining for the 1978-79
fiscal year.
CITY
'1 H1f?1,ry my 1 M CIT �0,a.,1?
1 lRecommendation ,, b✓Ikw"4e!p� ',!@4.$d'","m""m"�
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It is recommended: ilk�� o � I,i1 CITY 00��0 L
1') That the City of Fort Worth purchase the new -4 � E
with $100,000 deductible from Shannon & Assoc son its low �,
$123,,726; and
2) That the City Council adopt the attached sup lemena
ordinance appropriating $50,000 from the Gen rat Fund nd balance t
Non -Departmental City Self-Insurance Accounts -100;
3) Authorize the transfer of the $50,000 from the General Fund to the City
Self-Insurance Fund for payment of the premium to Shannon & Associates.
ADOPTED O D I ' " NoE NO,, -7 71