HomeMy WebLinkAboutOrdinance 3919 ORDINANCE NO. 3919
AN ORDINANCE WAIVING THE REQUIREMENTS OF
COMPETITIVE BIDDING FOR THE CITY'S INSURANCE
NEEDS.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
Section 1 . That the Council hereby waives the requirements of competitive bidding
for the City's insurance needs for the reason that said requirements are not practical or feasible
for the following reasons. In the are of insurance and risk management, it is very difficult to
obtain an equal playing field for bidding purposes primarily due to the following items:
retensions and deductibles vary; third party administrators offer different services and different
billing methods; and insurance contracts vary as to terms, coverage and exclusions. All of the
above contribute to an unstable insurance/risk management program. To waive the
requirements of competitive bidding will allow a broker/consultant to analyze the City's
insurance needs and recommend placement of insurance after looking at historical losses and
with the implementation of prevention measures to control losses.
PASSED AND APPROVED this 15th day of August 1995 .
APPROVED:
By : //ice
Fred Hanna, Mayor
ATTEST:
By:
Traci Paul, City Clerk