RESOLUTION NO. 2024-133
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, APPROVING THE PURCHASE OF $100 MILLION OF PROPERTY INSURANCE COVERAGE THROUGH AON FOR FISCAL YEAR 2024-2025 FOR AN AMOUNT NOT TO EXCEED $647,396
WHEREAS, the City Council of the City of Carlsbad, California has determined that it has a desire to renew its annual property insurance through Aon; and WHEREAS, Aon has negotiated a renewal of $100 million of property coverage for the next fiscal year beginning July 1, 2024, and concluding on June 30, 2025, for an annual premium in an amount not to exceed $647,396.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Carlsbad, California, as follows:
1. That the above recitations are true and correct.
2. That the purchase of $100 million of property coverage through Aon, effective July 1, 2024, to June 30, 2025, is hereby approved and the City Manager or designee is authorize d to direct the Deputy City Manager of Administrative Services to issue payment in an amount not to exceed $647,396 for payment of the property insurance premium.
PASSED, APPROVED AND ADOPTED at a Regular Meeting of the City Council of the City of Carlsbad on the 18th day of June, 2024, by the following vote, to wit:
AYES:
NAYS:
ABSENT:
ABSTAIN :
BLACKBURN, BHAT-PATEL, ACOSTA, BURKHOLDER, LUNA.
NONE.
NONE.
NONE.