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Reco.?.~!endation <br />The staff recommends the City Co~ncil approve the following two <br />insurance policies that have been secured by the City's insurance <br />broker: <br /> <br /> a) Special Multi-Peril Policy <br /> $500,000 Combined Single Limit of Liability, <br /> regardless of Bodily Injury or Property Damage, <br /> annual premium $172,300. <br /> <br /> b) $5,000,000 Commercial Umbrella Liability Policy, <br /> annual premium $98,320.00- <br />Since the cost of the two policies exceed the budget estimate, the <br />staff also recommends that the 1977-78 Budget be increased by $70,650. <br /> <br />-2- <br /> <br /> <br />