187567original to City Clerk
CITY OF ST. PAUL
OFFICE OF THE CITY CLERK
.,., COUNCIL RESOLUTION— GENERAL FORM
L K1^
f;:
Council File No..187567 =By Severin A.
Mortinsdh-
Whereas,_ Ih the matter of the grout)
PRESENTED BY ! le�COMMISSIONE DATE sureiifich oici*Itth The IV
sota} Mutual' Life Insurarice', Corn
insurer,` pblicYON6.' 365379 -0, in
prior to March 1, 1958, dididends
t, accrued in suistanti�l, m�gya
WHEREAS, in the matter of the group insurance program now established
for Saint Paul City employees group insured under policies with The Minne-
sota Mutual Life Insurance Company, insurer, policy No. 365379 —G, in—
effect prior to, March 1, 1958, dividends have ace-rued in substantial
amounts by reason of favorable mortality experience during the past
several years, and additional insurance coverage has been afforded to
such employees from and by the application of such accrued dividends; and
WHEREAS, under the direction of the Council of the City of Saint Paul,
its Technical Committee has made a study as to the best manner in which
such accrued and presently available dividends should be utilized for
the benefit of 'City employees included within said insured group and has
heretofore made due report and recommendation to this Council; and
t
WHEREAS, the Council, by resolution C. F. No. 186304, adopted
February 25, 19,58, determined that it would follow the recommendation of
the Technical Committee previously made and indicated that it would again
authorize the use of such dividends for the payment of additional extended
Life insurance ''for each of the i y.ividual insured employees; now, therefore,
be it
RESOLVED, ;that approximately $4075.85 of such accumulated and avail-
able dividends,, effective as of March 1, 1958, be applied to the purchase
and payment of the cost of 15% additional paid up group term insurance
for the twelve month period beginning March 1, 1958, availake"to and for
the benefit of all such insured City employees and in respect of their
several insurance coverages as of said date and the next preceding date,
February 28, 19.58; and be it
RESOLVED FURTHER, that the City Clerk be and he is hereby directed to
prepare a certified copy of this resolution and deliver the same to The
Minnesota Mutual Life Insurance Company without unnecessary delay.
• MAY 2 2 1958
COUNCILMEN Adopted by the Council 195—
Yeas Nays
DeCourcy MAY 2 2 1958
Holland f Approved 195—
f
" n Favor
Mortinson i -
Peterson~ f Mayor
Rosen33 Against
Mr. PresidentWw,M?on PUBL
SM 2 -57 2