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Speedway council approves $553,670 insurance cap, extends IMS Rev noise exemption and approves $2.5 million in claims
Summary
At its Feb. 24 meeting the Town of Speedway Town Council voted 4-0 to authorize an insurance program not to exceed $553,670, to extend a noise ordinance exemption for the IMS Rev fundraiser until midnight for one evening, and to approve $2,498,535.85 in claims and utility adjustments.
The Town of Speedway Town Council on Feb. 24 voted unanimously to approve a property and casualty insurance program not to exceed $553,670, granted a one-night extension to the town noise ordinance for the IMS Rev fundraiser, and approved claims and utility adjustments totaling $2,498,535.85.
The insurance motion authorized the town to accept a program up to the Liberty Mutual quote of $553,670 and gave Town Treasurer Philip Faust authority to negotiate and execute the policy on the town’s behalf. "That quote though is for $553,670 and that would take us through March first…
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