06/26/19731 1 . .I 1 1 I
KODIAK ISLAND BOROUGH ASSEMBLY
SPECIAL MEETING - JUNE 26, 1973
I CALL TO ORDER
The meeting was called to order by Mr. Charles Powell,
Presiding Officer, at 7:40 P.M. in the Borough Offices,
Donnelley Building, Kodiak, Alaska.
II ROLL CELL
Present Absent
Charles Powell
Dennis Nelson
Ross Wood
Fred Brechan
Also present: Mr. Tom Sweeney, Sweeney Insurance Agency;
Mr. Arthur Johnson, Island Insurance Agency; Mrs. Marolyn
Pederson, Admn., Ass't Kodiak Schools, and the Acting
Borough Clerk.
III PURPOSE OF MEETING
Howard Anderson
A. Review and Award of the Insurance Bids for the Kodiak
island Borough and School District. Mr. Powell noted
the purpose of the meeting was to further review the
bids as submitted and to make the award for the
Borough's insurance coverage. The bids were opened
on Friday, June 22, 1973, read into the record and
a work session was set for the 25th of June with the
award date to be June 26th, 1973. Mr. Powell asked
that the Clerk read the bids into the record, which
was so done. It was noted that the totals as read
included both options and a recomputation was done,
corrected totals read as follows:
Island Insurance Agency
Option "A" with $1,000,000 excess liability
including Inspection fees ...$31,993
Option "B" with $1,000,000 excess liability
... 30,581
Option "A" with $5,000,000 excess liability
32,993
Option "3" with $5,000,000 excess liability
... 31,581
Sweeney Agency
Option "A" with $1,000,000 excess liability
including $775 Malpractice ... 18,975
Option "B" with 51,000,000 excess liability
18,210
Option "A" with 55,000,000 excess liability
... 19,483
Option "B" with 55,000,000 excess liability
... 18,718
r1 1 1
KIB ASSEMBLY - SPECIAL MEETING June 26, 1973 Page 2
During the discussion it was noted that the request has
been submitted for a rating on the new Ouzinkie School
but it has not been received as of this date. A question
was raised concerning the difference in the premium rate
for the upcoming year and that of the preceding year,
Mr. Sweeney replied that he had done some close figuring,
the companies had had a good year and there were few losses,
this savings was passed on to the customer.
Mr. Brechan moved that the Kodiak Island Borough insurance
be awarded to the lowest bidder composed of coverage "A"
and $5,000,000 in excess liability, seconded by Mr. Nelson.
Discussion followed on the basis for the premium rate and
whether or not the quote was based on stated value. It was
indicated that this was true, this is a 90% co- insurance
blanket PIP form. The Borough Chairman wanted to be sure
that as long as the values remained the same the rate would
also remain the same. The three year bid is based on a
statement of values. Mr. Brechan amended his motion, with
the approval of the second, to read - "if the value of the
insured parcel went up the rate will remain the same".
Mr. Sweeney of Sweeney Insurance assured the assembly that
the rate would remain the same for the three -year policy
pair It would stand to reason that should the values
change the premium would change, but not the rate.
The question was called for and the motion passed by
unanimous roll call vote.
III ADJOURNMENT
There being no further business, the meeting was adjourned
at 8:20 P.M.
ATTEST: (4--
Acting Clerk
APPROVED:
Borough Chairman