Title
A Resolution authorizing and directing the Mayor, on behalf of the Urban County Government, to execute a Contract with the Prudential Insurance Co. of America, for group life insurance for all LFUCG employees, effective January 1, 2015, at a cost not to exceed $775,000. [Div. of Human Resources/Office of the Chief Administrative Officer, Maxwell/Hamilton]
Summary
Authorization to enter into a contract restatement for Group Life Insurance for all LFUCG employees between the LFUCG and The Prudential Insurance Company of America, effective January 1, 2015. The fiscal impact FY 15 is approximately $775,000.00 and funds are budgeted. (L0521-15)(Maxwell/Hamilton)
Budgetary Implications [select]: Yes
Advance Document Review:
Law: { Select Yes/No, Completed by [Attorney Name, Date]}
Risk Management: {Select Yes/No, Completed by [Official, Date]}
Fully Budgeted [select]: Yes
Account Number: 6002-160504-1841-63615
This Fiscal Year Impact: $
Annual Impact: $775,000
Project:
Activity:
Budget Reference:
Current Balance: $8,647,584.19
Body
BE IT RESOLVED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That the Mayor, on behalf of the Lexington-Fayette Urban County Government, be and hereby is authorized and directed to execute the Contract, which is attached hereto and incorporated herein by reference, with The Prudential Insurance Company of America, for group life insurance for all LFUCG employees, effective January 1, 2015.
Section 2 - That an amount, not to exceed the sum of $775,000.00, be and hereby is approved for payment to The Prudential Insurance Company of America, from account #6002 - 160504 - 63615, pursuant to the terms of the Contract.
Section 3 - That this Resolution shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL:
___________________________________
MAYOR
ATTEST:
______________________________
CLERK OF URBAN COUNTY COUNCIL