Sponsor
Alderman DeHahn
Title
Right to Withdraw in 2015 from Transit Mutual Insurance Company of Wisconsin
WHEREAS, the Belle Urban System is the mass transit operating system operating in the City of Racine and neighboring communities; and
WHEREAS, Belle Urban Transit is owned by the City of Racine, Wisconsin; and
WHEREAS, Belle Urban Transit is a member of the Transit Mutual Insurance Company of Wisconsin, which insures transit companies in the State of Wisconsin; and
WHEREAS, Belle Urban Transit System is considering withdrawing as a member of Transit Mutual Insurance Company of Wisconsin; and
WHEREAS, the by-laws of Transit Mutual Insurance Company of Wisconsin requires that any member seeking to withdraw from Transit Mutual Insurance Company requires a resolution adopted by its governing body; and
NOW, THEREFORE, BE IT RESOLVED, that the Belle Urban System hereby be authorized to send notice to Transit Mutual Insurance Company of Wisconsin of its intention to withdraw from Transit Mutual Insurance Company effective December 31, 2014; and
BE IT FURTHER RESOLVED, that Belle Urban System is hereby directed to provide the required one-year notice to Transit Mutual Insurance Company of Wisconsin, pursuant to Transit Mutual's by-laws, of its intention to so withdraw.
Fiscal Note: Competitive bids for insurance could produce lower Transit operation costs in 2015.