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<br />RESOLUTION NO. 2008-J 32 (l <br /> <br />A RESOLUTION OF THE CITY COMMISSION OF THE <br />CITY OF SUNNY ISLES BEACH, FLORIDA, APPROVING <br />THE RENEWAL OF THE CITY'S WORKERS' <br />COMPENSA TION INSURANCE WITH THE FLORIDA <br />MUNICIPAL INSURANCE TRUST (FMIT), FOR THE <br />PERIOD OF OCTOBER 1, 2008 THROUGH SEPTEMBER <br />30, 2009, IN THE AMOUNT OF ONE HUNDRED THIRTY- <br />SIX THOUSAND FIVE HUNDRED FIFTY -FIVE DOLLARS <br />($136,555.00), AS OUTLINED IN EXHIBIT "A"; <br />AUTHORIZING THE CITY MANAGER TO DO ALL <br />THINGS NECESSARY TO EFFECTUATE THE TERMS OF <br />THIS RESOLUTION; PROVIDING FOR AN EFFECTIVE <br />DATE. <br /> <br />WHEREAS, on June 19, 2008, via Resolution No. 2008-1284, the City Commission <br />renewed the City's Property, Casualty, and Auto Insurance with the Preferred Government <br />Insurance Trust (PGIT) through the City's Insurance Broker, Brown & Brown Insurance, Inc., <br />for a 15-month package policy which allowed the City to take advantage of a recent reduction in <br />property insurance rates; and <br /> <br />WHEREAS, the City of Sunny Isles Beach now wishes to renew the City's Workers' <br />Compensation Insurance; and <br /> <br />WHEREAS, due to the City's excellent claims history and an overall rate decrease of <br />16.8% for the upcoming year, the Florida Municipal Insurance Trust (FMIT) quoted a price of <br />$136,555.00 which is $142,810.00 lower than last year's renewal premium of$279,365.00; and <br /> <br />WHEREAS, FMIT is sponsored and administered by the Florida League of Cities, and is <br />a premier insurance organization for public entities and is a non-assessable trust approved by the <br />Florida State Legislature; and <br /> <br />WHEREAS, the Florida Municipal Insurance Trust (FMIT) has submitted a proposal for <br />renewal of Workers' Compensation Insurance, in the amount of One Hundred Thirty-Six <br />Thousand Five Hundred Fifty-Five Dollars ($136,555.00), for the period of October 1, 2008 <br />through September 30, 2009, as outlined in Exhibit "A", attached hereto. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE <br />CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: <br /> <br />Section 1. Approval of Agreement. The City Commission hereby approves the agreement <br />with the Florida Municipal Insurance Trust (FMIT) for the City's Workers' Compensation <br />Insurance, in the amount of One Hundred Thirty-Six Thousand Five Hundred Fifty-Five Dollars <br />($136,555.00), as outlined in Exhibit "A", attached hereto. <br /> <br />R2008- Fla Municipal Ins Trust (Fmit) Workers Comp InsurancePage I of2 <br />