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HomeMy WebLinkAbout7875 - Certificate of Insurance for Lease of Property11 RESOLUTION NO. 7875 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH APPROVING A UNIFORM "CERTIFICATE OF INSURANCE FOR LEASE OF CITY PROPERTY" AND ESTABLISHING INSURANCE REQUIREMENTS FOR LESSEES OR USERS OF CITY PROPERTY WHEREAS, the City of Newport Beach is a party to approxi- mately twenty -five individual leases of public property to private business interests, homeowners' associations, and other institutions; and WHEREAS, a standard requirement of these individual lease documents is a certificate of insurance and hold harmless provision that the lessees .must accept as a condition of leasing the City property; and WHEREAS, these certificates are not uniform, often incomplete and expire on unrelated dates; and WHEREAS, the City Council has reviewed a new uniform certificate of insurance establishing both bodily injury and property damage insurance coverage and embodying all the insurance requirements as recommended by the City's risk management insurance analyst; and WHEREAS, in order to provide the best protection from liability claims arising out of City property leases, the City Council has determined that the new uniform Certificate of Insurance Eh ould be approved; NOW, THEM FORE, BE IT RESOLVED that the City Council of the City of Newport Beach hereby approves a uniform Certificate of Insurance in order to provide the City with the best protection from liability claims arising out of City -owned leased property. ADOPTED this 20th day of November, 1972. ATTEST: Ci y Clerk IFIED AS THE ORIGINAL CITY CLERK OF THE - CITY OF NE PORT REACH ®aTE, NOV 27 1912 DON:mh 11/6/72