The city of Mt. Carmel is saving about $5,000 on its’ insurance premium after the city council Monday opted to pay the entire amount before November 14th. City Clerk Ryan Turner said the city had three options when it came to paying the IML RMA min/max premium. The first option, which the council chose, saved 1% if the $251,460 is paid by November 14th. The second option was to $253,992 by December 12th; while the third option was to split the premium into two payments due on December 12th and May 15th totaling $256,523.