No preview available
2008-009 Life & Long-Term Disability Insurance Rate ReductionRESOLUTION 2008-09 • A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF NORTH PALM BEACH, FLORIDA, ACCEPTING THE PROPOSAL OF THE STANDARD TO PROVIDE LIFE, ACCIDENTAL DEATH AND DISMEMBERMENT, LONG TERM DISABILITY AND SUPPLEMENTAL LIFE INSURANCE POLICIES FOR VILLAGE EMPLOYEES AND AUTHORIZING THE CANCELLATION OF EXISTING POLICIES; PROVIDING .FOR CONFLICTS; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, Gehring Group has provided the Village with proposals from various insurance companies to provide Village employees with life, accidental death and dismemberment ("AD&D"), long term disability ("LTD") and supplemental life insurance policies; and WHEREAS, Village Administration recommends the acceptance of the proposal submitted by The Standard to provide such insurance coverage and a reduced cost to the Village; and WHEREAS, the Village Council determines that acceptance of the proposal submitted by The Standazd is in the best interests of the Village and its residents. NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF NORTH PALM BEACH, FLORIDA as follows: • Section 1. The foregoing recitals aze hereby ratified and incorporated herein. Section 2. The Village Council hereby accepts the proposal submitted by The Standazd to provide Village employees with life, AD&D, LTD and supplemental life insurance polices. The Village Council fiuYher authorizes Village Administration to take all actions necessary to implement these insurance policies and to cancel the policies currently in effect. Section 3. All resolutions or parts of resolutions in conflict herewith aze hereby repealed to the extent ofsuch conflict. Section 3. This Resolution shall take effect immediately upon adoption. PASSED AND ADOPTED THIS 24th DAY OF JANUARY, 2008. (Village Seal),,' n~;~~,;, MAY R ATTEST: VILLAGE CLERK ~