Buena Park

City Council

June 25, 2024 Order of Business 4 #H

Agenda Item H

4H. RESOLUTION AUTHORIZING THE PURCHASE OF DIFFERENCE IN CONDITIONS COVERAGE (I.E. EARTHQUAKE\nINSURANCE) FOR ESSENTIAL CITY FACILITIES\nAdopt a resolution authorizing the Human Resources/Risk Management Department to purchase difference in\nconditions coverage (i.e. earthquake insurance) for essential City facilities, including Fire Stations Nos. 61, 62, and\n63, effective July 1, 2024, for one year. Associated cost in the amount of $355,750 will be funded by the Public\nLiability Self­Insurance Fund.\n— Recommended Action: 1) Adopt a resolution authorizing the purchase of difference in conditions coverage\n(i.e. earthquake insurance) for essential City facilities; 2) Authorize the City Manager to execute any necessary\ndocuments to bind coverage; and, 3) Allocate funds in the amount of $355,750 for this purpose.