Chapter 3.36
INSURANCE FUND
Sections:
3.36.010 Created.
There is created in the city a fund to be known as the insurance fund, hereinafter called the fund. (Ord. 2008 § 1, 1983).
3.36.020 Purpose.
The purpose of the fund is to receive periodic cash contributions from operating funds of the city to provide a source for payment of liability insurance premiums as well as claims arising from self-insurance for unemployment compensation and losses for which the city is either uninsured or which fall below policy deductibles. (Ord. 2008 § 2, 1983).
3.36.030 Payment into fund.
Payment into the fund shall be made by means of transfers from the funds of the city which budget insurance costs. Such transfers shall be in an amount which will provide a sufficient deposit into the fund to cover estimated premiums and claims against the city. (Ord. 2008 § 3, 1983).
3.36.040 Payments from fund.
Payments out of the fund shall be made upon the basis of billed premiums and claims for liability insurance and unemployment compensation and may be made either by treasurer’s check or by warrant. (Ord. 2008 § 4, 1983).