Explanation
Background: The Department of Human Resources, Employee Benefits/Risk Management, entered into contract with Arthur J. Gallagher, to provide property insurance on selected city properties on an annual basis. Contract became effective August 1, 2002 for a period of one year, with an annual renewal option through an escalator clause. An annual $100,000 deductible applies. This ordinance is submitted to authorize and direct the Human Resources Director to extend the contract for the renewal of Property Insurance and Engineering Services for the City of Columbus with Arthur J. Gallagher, to waive the provisions of competitive bidding, to authorize the expenditure of $300,608.00 to be paid out of the Employee Benefits fund in the Human Resources Department.This ordinance is submitted as an emergency so as to allow financial transaction to be posted in the City's accounting system as soon as possible. Up to date financial posting promotes accurate accounting and financial management.Fiscal Impact: Funds were budgeted in the Employee Benefit's fund in the Human Resources Department's account for such reasons. Passage of this ordinance will reduce the Employee Benefit's fund balance by $300,608.
Title
To authorize the Director of the Department of Human Resources to extend the contract with Arthur J. Gallagher, to provide property insurance on selected city properties on an annual basis; to authorize and direct the expenditures of $300,608, or so much thereof as may be necessary; and to declare an emergency. ($300,608)
Body
WHEREAS, the City Of Columbus needs to extend the contract to renew Property Insurance and Engineering Services for its properties; and
WHEREAS, the original contract allowed for an extension with Arthur J. Gallagher; and
WHEREAS, it is in the best interest of the City to waive the provisions of Section 329.06 of the City Code, 1959; and
WHEREAS, an extension shall be given to Arthur J. Gallagher for ...
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