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<br />RESOLUTION NO. 2011- Jl9la... <br /> <br />A RESOLUTION OF THE CITY COMMISSION OF THE <br />CITY OF SUNNY ISLES BEACH, FLORIDA, APPROVING <br />THE PURCHASE OF BUILDERS RISK INSURANCE FOR <br />THE SUNNY ISLES BEACHINEWPORT PIER AND <br />RESTAURANT, THROUGH THE CITY'S INSURANCE <br />BROKER, BROWN & BROWN INSURANCE, INC., IN AN <br />AMOUNT NOT TO EXCEED ONE HUNDRED EIGHT <br />THOUSAND FIVE HUNDRED SEVENTY-EIGHT <br />DOLLARS AND NINETY-SIX CENTS ($108,578.96), FOR A <br />ONE-YEAR TERM; AUTHORIZING THE CITY <br />MANAGER TO DO ALL THINGS NECESSARY TO <br />EFFECTUATE THIS RESOLUTION; PROVIDING FOR AN <br />EFFECTIVE DATE. <br /> <br />WHEREAS, the City of Sunny Isles Beach wishes to develop the Sunny Isles <br />Beach/Newport Pier and Restaurant; and <br /> <br />WHEREAS, the contract between the City and General Contractor for the Active Park <br />requires that the City provide Builders Risk Insurance to protect the City from damages that may <br />occur to the Pier and Restaurant structures during the time frame of construction; and <br /> <br />WHEREAS, the City's Insurance Broker, Brown & Brown Insurance, Inc., has provided <br />a proposal from Lloyds of London, in an amount not to exceed One Hundred Eight Thousand <br />Five Hundred Seventy-Eight Dollars and Ninety-Six Cents ($108,578.96), for a one-year term, <br />attached hereto as Exhibit "A". <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 I. Approval of Purchase. The City Commission hereby approves the purchase of <br />Builders Risk Insurance for the Sunny Isles Beach/Newport Pier and Restaurant through the <br />City's Insurance Broker, Brown & Brown Insurance, Inc., in an amount not to exceed One <br />Hundred Eight Thousand Five Hundred Seventy-Eight Dollars and Ninety-Six Cents <br />($108,578.96), for a one-year term, attached hereto as Exhibit "A". <br /> <br />Section 2. Authority of City Manager. The City Manager is hereby authorized to do all <br />things necessary to effectuate this Resolution. <br /> <br />Section 3. <br /> <br />Effective Date. This Resolution shall become effective upon adoption. <br /> <br />PASSED AND ADOPTED this 9th day of November 2011. <br /> <br /> <br />R2011- Builders Risk Insurance For Pier & Restaurant <br /> <br />Page I of2 <br />