City of Racine - File #: 14-10074

• File #: 14-10074
• Version: A
• Name: Communication from the Transit and Parking System Manager requesting that the City of Racine adopt a resolution rescinding its notice of possibly withdrawing from the Transit Mutual Insurance Corporation in 2015. The Transit Mutual Insurance Corporation
• Type: Communication
• Status: Passed
• File created: 4/23/2014
• In control: Transit and Parking Commission
• Final action: 5/6/2014
• Title: Subject: Communication from the Transit and Parking System Manager requesting that the City of Racine adopt a resolution rescinding Resolution No. 13-0465 of November 19, 2013 of its notice of possibly withdrawing from the Transit Mutual Insurance Corporation in 2015. (Res. No. 14-0197) Recommendation: The Racine Common Council adopt a Resolution rescinding Resolution No. 13-0465 of November 19, 2013 of its previous notice of the possibility of withdrawing from the Transit Mutual Insurance Corporation of Wisconsin (TMI) and that the City Clerk forward a copy of the resolution to TMI before June 1, 2014. Fiscal Notes: A TMI member dividend refund program over a 10 year period beginning in 2015 is expected to significantly reduce future annual insurance costs.
• Related files: Res.14-0197

Date	Ver.	Action By	Action	Result
5/6/2014	A	Common Council	Approved as Presented	Pass
4/30/2014	A	Transit and Parking Commission	Recommended For Approval

Title

Subject: Communication from the Transit and Parking System Manager requesting that  the City of Racine adopt a resolution rescinding Resolution No. 13-0465 of November 19, 2013 of its notice of possibly withdrawing from the Transit Mutual Insurance Corporation in 2015. (Res. No. 14-0197)

Recommendation:  The Racine Common Council adopt a Resolution rescinding Resolution No. 13-0465 of November 19, 2013 of its previous notice of the possibility of withdrawing from the Transit Mutual Insurance Corporation of Wisconsin (TMI) and that the City Clerk forward a copy of the resolution to TMI before June 1, 2014.

Fiscal Notes:  A TMI member dividend refund program over a 10 year period beginning in 2015 is expected to significantly reduce future annual insurance costs.