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of coverage purchased, regardless of the number of claimants. As noted, this option is more expensive and is <br />currently not budgeted for. There are additional costs in both waiving the limits and purchasing excess liability. <br />Funding Source: <br />Amounts attributed to not -waiving the statutory tort limits was included in the 2018 General Fund Budget under the <br />respective departments. The $25,000 for $1M of excess liability is to be funded from the city's insurance fund. <br />Recommendation: <br />Staff recommends that the City Council adopt the resolution not waiving (Option # 1) the Statutory Tort Limits for <br />liability coverage. <br />Action: <br />Adopt Resolution #17-11-291 Not Waiving the Statutory Tort Limits for League of Minnesota Cities Insurance <br />Trust Liability Coverage for the City of Ramsey. <br />Attachments <br />Waiver Form <br />LMC Memo Liability Coverage <br />Reso #17-11-291 Not Waiving Tort Limits <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 11/22/2017 02:33 PM <br />Form Started By: Diana Lund Started On: 11/15/2017 09:40 AM <br />Final Approval Date: 11/22/2017 <br />