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Resolution No. 1508 <br />By Mr. .4 <br />A RESOLUTION <br />ACCEPTING THE BID OF THE HARTFORD ACCIDENT AND INDEMNITY <br />COMPANY FOR LIABILITY, PROPERTY DAIIAGE FIRE AND .THEFT INSURANCE. <br />WHEREAS after due advertisement, a bid was received <br />from the Hartford Accident and Indemnity Company for liability <br />and property,damage insurance on the motor vehicles of the <br />Village, and also fire and theft insurance thereon, and <br />WHEREAS this Council <br />desires to accept the bid of <br />the Hartford Accident and Indemnity Company, it <br />being the <br />lowest and best bid; now, therefore, <br />BE IT RESOLVED by the <br />Council of the Village <br />of North_ <br />Olmsted, State of Ohio: <br />Section 1. That the <br />bid of the Hartford Accident <br />and Indemnity Company as follows: <br />tt 100,000/300,000 <br />100000 <br />BODILY INJURY <br />PROPERTY DAMAGE <br />Earning rates <br />5.367 <br />1.024 <br />Busses under 30 passengers <br />603.11 <br />99.58 <br />Busses over 30 passengers <br />726.71 <br />133.72 <br />Trucks <br />46 ,94 <br />17.27 <br />Fire Trucks <br />48.73 <br />20.72 <br />Private Passenger <br />35.89 <br />10.35 <br />Non - Ownership -Class I <br />8.22 <br />3.30 <br />Non- Ownership -Class II <br />.274 <br />.11 <br />Independent Contractors <br />.789 <br />.134 <br />Hired Car a. Buss <br />6.969 <br />1.444 <br />b. Commercial <br />2.329 <br />' 1.375 <br />c. Pleasure & Business 1.987 <br />.66 <br />Special Coverage Premium <br />10.30 <br />2.75 <br />Spare Busses (under 30 passengers ) 150.78 <br />24.89 <br />Spare Busses (over 30 ti <br />)181.68 <br />33.43 <br />Estimated earnings--$166p478 <br />Total Premiums <br />Commercial &'Pleasure <br />476.11 <br />172.68 <br />Non- Ownership, Class I and II 33.89 <br />7.20 <br />Special,Coverage <br />10.30 <br />2.75 <br />Minimum Premium- Busses <br />8651.01 <br />1590.94 <br />SCHEDULE OF RATES FOR FIRE AND THEFT <br />Fire Theft <br />Commercial Trucks <br />.27 .09 <br />Busses <br />.23 .05 <br />Unmarked Passenger <br />'.18 .40 <br />Fire Dept. Trucks <br />.23 .07 <br />Collision Credit.26% <br />For a three -year term the rates and premiums will <br />be three times those mentioned above. This policy will be <br />subject to audit(. at each anniversary date or termination <br />of the policy. Such rates and premiums, it is understood, <br />will be adjusted annually dependent upon the loss record. <br />The policy will be issued on the Comprehensive <br />,Automobile form, which means that there will be but one <br />Insuring Clause and as indicated above, any claims brought <br />against the Village because of an automobile accident of any <br />description will be contemplated by the policy." <br />fora three -year period be and the same is hereby accepted <br />