§ 33.05 INSURANCE.
   (A)   Self-insured medical insurance program adopted.
      (1)   There is hereby adopted and created by the City Council a city self-insured medical insurance program for the employees of the city, including the employees of the municipal water and sewer commission.
      (2)   The self-insured program shall continue from year to year until changed or modified by ordinance of the City Council, provided the City Council may, from time to time, change the third party administrator, and/or the reinsuring insurance company.
(2000 Code, § 9-51)
   (B)   Special account.
      (1)   There is hereby created a special segregated bank account, within the accounts of the city, which account shall be known as the Self Insurance Fund Account, and which account shall receive the payments of the city and the Municipal Water and Sewer Commission to fund the self insurance program. Checks drawn upon this account shall be drawn upon the signatures of the City Treasurer, and the Mayor and the funds therein contained shall not be expended for any reason other than the payment of the medical claims of the employees covered by this self insurance program, and or the service fees to the third party administrator for maintaining the claims service for the city.
      (2)   Each year, the city shall fund for the maximum liability as projected by the third party administrator. Should the fund, over a period of time, contain funds sufficient to meet the projected worst case liability of the city, the city shall be relieved of making payments into the fund until a time that the fund shall drop below the maximum liability point.
(2000 Code, § 9-52)
   (C)   Maintenance of records. The City Clerk shall maintain a file of contracts as may be negotiated by the Council or the Mayor with the third party administrator and the reinsurance company. The City Clerk shall maintain copies of the medical insurance benefits provided by the city to the employees and shall have available copies of the benefits for any employee requesting a copy thereof.
(2000 Code, § 9-53)
   (D)   Amendment, termination. The City Council may, from time to time, amend, modify or supplement the self-insured program by resolution of the City Council. This program may only be terminated by ordinance duly adopted by the City Council.
(2000 Code, § 9-54)
   (E)   Remittance by water, sewer system. The municipal water and sewer system shall remit to the city, to the order of the city's self- insured medical fund, its proportionate share of the monies necessary to fund the self-insured medical account.
(2000 Code, § 9-55)