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MEMORANDUM <br />TO: LARRY SCHENK, CITY ATTORNEY <br />FROM: MATTIE CUNNINGHAM, CITY CLERKTV~, <br />SUBJECT: INSURANCE - PRIVATE HANGARS AT COX FIELD <br />DATE: JULY 12, 2001 <br />In regard to your question, does the City of Paris carry personal property <br />insurance coverage on private hangars located at Cox Field Airport, the City of <br />Paris has never carried this type coverage for private hangars located on the <br />Airpart property. The city does have coverage for city owned hangars. <br />I talked with Stephanie Harvey the City's Insurance Underwriter with Texas <br />Municipal League and Ms. Harvey advised, after reviewing a copy of one of the <br />lease agreements with their legal department, that the City of Paris does have a <br />vested interest in the leased hangars at Cox Field. She also advised that <br />insurance coverage for the leased hangars could be added to the city's insurance <br />schedule at the current rate of $.086 per one hundred dollars, with a deductible <br />of $2,500.00 per occurrence. Ms. Harvey also suggest the lease agreements be <br />revised with the Lessee's furnishing this coverage for their hangars with the City <br />of Paris being shown as an additional insured. <br />Another item Ms. Harvey pointed out, after reviewing the lease agreement, was <br />there were no provisions where the Lessee would be required to rebuild the <br />hangar in case of it being damaged or destroyed. Ms. Harvey suggested placing <br />this requirement in the lease agreements in order to protect the City's interest. <br />If additional information is needed, please let me know. <br />