City Council

9. EARTHQUAKE COVERAGE FOR CITY FACILITIES FOR THE 2023-24\nFISCAL YEAR - Council consideration to approve premium payment through the City's\ninsurance broker, Alliant Insurance Services, Inc., for Fiscal Year 2023-24 earthquake\ncoverage for City facilities.\nRECOMMENDED ACTION:\nCity Council:\n1. Authorize Alliant Insurance Services, Inc., to bind earthquake coverage on behalf of\nthe City of Santa Clarita for Fiscal Year 2023-24 for various City facilities with\nArrowhead General Insurance Agency, Inc., for a policy limit of $35 million, for a\ntotal premium fee of $503,420.\n2. Authorize an ongoing budget appropriation from Self Insurance Fund (Fund 721) to\nexpenditure account 7212306-516101 for $71,762 for ongoing earthquake coverage\nrenewals commencing in Fiscal Year 2023-24.\n3. Authorize an ongoing budget appropriation from Vista Canyon Wastewater Standby\nFund (Fund 368) to expenditure account 3687418-516101 for $25,000 for ongoing\nearthquake coverage renewals commencing in Fiscal Year 2023-24.\n4. Authorize an ongoing budget appropriation from Cooper Street Parking Structure\nFund (Fund 369) to expenditure account 3697409-516101 for $1,635 for ongoing\nearthquake coverage renewals commencing in Fiscal Year 2023-24.\n5. Authorize the City Manager or designee to execute all contracts and associated\ndocuments, subject to City Attorney approval.