2015-1253 RESOLUTION NO. 2015 -1253
A RESOLUTION TO WITHDRAW FROM THE
LOCAL GOVERNMENT PROPERTY INSURANCE FUND
WHEREAS, like many units of local government, the City of Janesville has obtained and currently
maintains property insurance through the State of Wisconsin Local Government Property Insurance Fund
(LGPIF); and
WHEREAS, the State of Wisconsin has enacted legislation to phase out and eliminate LGPIF due to
the fund's purported insolvency; and
WHEREAS, due to those deficits in funding at the LGPIF, municipal members of the LGPIF have seen
skyrocketing premiums of up to 100% above current rates if they maintain coverage through the phase -out
period; and
WHEREAS, instead of using LGPIF, City staff recommends that the City insure city property through
Municipal Property Insurance Company (MPIC) which is an independent stock insurance company jointly
owned by Cities and Villages Mutual Insurance Company (CVMIC), League of Wisconsin Municipalities Mutual
Insurance Company (LWMMI), and Wisconsin Municipal Mutual Insurance Company (WMMIC); and
WHEREAS, pursuant to the requirements of section 605.21(3), Wis. Stats., to withdraw from the Local
Government Property Insurance Fund, a local municipality must provide certified notice to the LGPIF by
majority vote that the municipality has elected to withdraw from the fund; and
NOW, THEREFORE BE IT RESOLVED, that pursuant to section 605.21(3) of the Wisconsin Statutes,
the City of Janesville City Council, in session this 9th day of November, 2015, hereby elects to withdraw from
the Local Government Property Insurance Fund, effective January 1, 2016; and
BE IT FURTHER RESOLVED, that a certified notice of this resolution be sent to the Local Government
Property Insurance Fund and the appropriate forms be completed; and
BE IT FURTHER RESOLVED, that the City of Janesville City Council does hereby elect to become part
of the Municipal Property Insurance Company (MPIC), effective on January 1, 2016.
ADOPTED: November 9, 2015 Motion by: Liebert
Second by: Tidwell
APPROVED: / Councilmember Aye Nay Pass Absent
a Bobzien X
Deupree X
Mark A. F ei - g, City Manager Farrell X
Gruber X
ATTE . Liebert X
%A Marklein X
/ f1' # Tidwell X
David T. Godek, City Clerk- Treasurer
APPROVED AS TO FORM:
Wald Klimczyk, i y Attorney
Proposed by: Finance Division
Prepared by: Finance Division