city-of-streator-special-city-council-and-committee-meeting-agenda_883.pdf
City Plans 12-Year Extension with MICA Insurance Pool
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Description
Streator City Council is poised to approve Resolution 2025-32 extending its participation in the Municipal Insurance Cooperative Agency insurance pool for a new 12‑year term from May 1, 2026 to April 30, 2038. The action also adopts amended by-laws, including a 120‑day notice withdrawal provision.
Contract Details
Vendor
MUNICIPAL INSURANCE COOPERATIVE AGENCY
Agency
City of Streator city, IL
Contract Type
INSURANCE
Document Date
September 9, 2025
Contract Term
May 1, 2026 through April 30, 2038 (12-year term)
Renewal Date
2038-04-30
Renewal Info
Second Comprehensive Amendment creates a new 12‑year intergovernmental agreement term from May 1, 2026 through April 30, 2038. At the end of that term, the Agency term may be extended for a multi‑year term by a two‑thirds vote of the Board of Directors; members may withdraw with 120 days’ notice.
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