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CONSIDER LMCIT WAIVER FORM-NOT WAIVING THE STATUTORY TORT LIMITS <br /> By: Heidi A. Nelson, Asst. City Administrator <br /> <br />Background: <br /> <br />As a part of thc armuaI renewal of our property, casualty, and liability insurance coverage for the City <br />of Ramscy, the City Council is required to waive or not waive the statutory tort limits for its liability <br />coverage. Attached to this case is the form that is required to be completed and signed after council <br />approval of a resolution indicating whether the City chooses to waive or not waive the statutory tort <br />limits for liability coverage. <br /> <br />Staft Recommendation: <br /> <br />Staff recommends that Council not waive the statutory tort limits for liability coverage thereby limiting <br />an individual claimant to recover no more than $300,000 on any claim to which the statutory tort limits <br />apply. Under state law, the total which all claimants would be able to recover for a single occmTence <br />to which thc statutory tort limits apply would be limited to $1,000,000. <br /> <br />Council Action: <br /> <br />Adopt Resolution No. 03-12-XX Not Waiving the Statutory Tort Limits for League of Mim~esota <br />Cities Insurance Trust Liability Coverage for the City of Ramsey. <br /> <br />Reviewed by: <br />City Administrator <br />Finance Officcr <br /> <br />CC: 12/I 6/2t}03 <br /> <br /> <br />