Item 4D AudioItem 4DItem 4D
Resolution No. 09Resolution No. 09--045, 045,
Amend the City of Amend the City of
Southlake Insurance Southlake Insurance
Trust Agreement Trust Agreement
City of Southlake Strategy MapCity of Southlake Strategy Map
The City of Southlake provides municipal services that support the The City of Southlake provides municipal services that support the highest quality of highest quality of
Fulfill OurFulfill Our
lifelifefor our residents and businesses. We do this by delivering for our residents and businesses. We do this by delivering outstanding value outstanding value and and
MissionMission
unrivaled qualityunrivaled qualityin everything that we do.in everything that we do.
Deliver on OurDeliver on Our
Safety Mobility Infrastructure Performance Management Quality PartnershipsSafety Mobility Infrastructure Performance
Management Quality Partnerships
and Securityand Securityand Service Delivery Developmentand Service Delivery Developmentand Volunteerismand Volunteerism
Focus AreasFocus Areas
C3 Provide attractive C4 Attract and keep top-tier
C2 Provide travel
C1 Achieve the
Serve OurServe Our
and unique spaces for businesses to drive a
convenience within
highest standards of
CustomersCustomers
enjoyment of personal dynamic and sustainable
city and region
safety and security
interestseconomic environment
B2 Collaborate with
B1 Implement andB3 Pursue
B5 Optimize
B4 Provide high
Manage theManage the
select partners to
share best practices innovative service
use of
quality customer
BusinessBusiness
implement service
across all departmentsdelivery options
technology
service
solutions
ProvideProvide
F3 Invest to provide and
F1 Achieve F2 Maintain or F4 Maximize
FinancialFinancial maintain high quality
competitive financial improve AA bond return on
public assets
StewardshipStewardship
benchmarksratinginvestments
L5 Actively promote
L1 Ensure our people
L2 Enhance L3 Attract, L4 Recognize
PromotePromote
opportunities for partnerships
understand the
leadership develop and and
LearningLearning
and volunteer involvement
strategy and how they
capabilities to retain a skilled reward high
and Growthand Growth
(individual and group)
contribute to it
deliver resultsworkforceperformers
Live Our Core ValuesLive Our Core Values
Integrity Integrity ƔƔInnovation Innovation ●●Accountability Accountability ●●Commitment to Excellence Commitment to Excellence ●●TeamworkTeamwork
BackgroundBackground
Texas Insurance Code requires annual Texas Insurance Code requires annual
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premium tax on health, life and accident. premium tax on health, life and accident.
Municipalities may be exempted if insurance Municipalities may be exempted if insurance
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provided through a single, nonprovided through a single, non--profit trustprofit trust
City of Southlake Insurance Trust City of Southlake Insurance Trust
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established August 21, 2007.established August 21, 2007.
Trust Agreement, Trustees approvedTrust Agreement, Trustees approved
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Savings of more than $52,000 in annual premium Savings of more than $52,000 in annual premium
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taxestaxes
Reason for AmendmentReason for Amendment
Additional restrictions from Texas Additional restrictions from Texas
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Comptroller of Public Accounts:Comptroller of Public Accounts:
Cannot acquire real estate; Cannot acquire real estate;
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Cannot invest in any realty or personal Cannot invest in any realty or personal
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property;property;
Cannot pay for liability insurance for Cannot pay for liability insurance for
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trustees;trustees;
Cannot use funds to pay for professional Cannot use funds to pay for professional
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services, judgments or litigation.services, judgments or litigation.
AmendmentAmendment
Removes paragraphs 3.1 (i), (j) and (k) Removes paragraphs 3.1 (i), (j) and (k)
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from Article III.from Article III.
Removal of paragraphs does not hinder Removal of paragraphs does not hinder
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the operations and activities of the the operations and activities of the
Trust for the purposes it is intended.Trust for the purposes it is intended.
Staff recommends approval.Staff recommends approval.
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Questions?Questions?
Kevin HugmanKevin Hugman
(817) 748(817) 748--81938193