With a view of obtaining a definite official expression from the Legislature, which should represent the policy of the State, toward the question of fire hazard incident to its property and determine whether the State should assume such risk or invoke the protection of fire insurance contracts, the following is respectfully submitted: These figures show the approximate amount required to pay the annual premium on fire insurance policies covering the full insurable value of buildings and contents belonging to the State at the various institutions, and the value of all property destroyed by fire during the five-year period next preceding. It will be observed that the total amount required to pay the annual premium on fire insurance policies covering the full insurable value of the State's property, as indicated above, is $159,976.35. It will also be seen that the average fire loss per annum during the five-year period under consideration has been $36,963.25. We have not included in the above data the Capitol Building, the Land Office Building, the Governor's Mansion, Capitol Powerhouse or the old Land Office or the personal property contained in any of these buildings. STATE BOARD OF CONTROL. |