(a) There is hereby established a Vehicular Self-Insurance Fund. The purpose of the Fund shall be to pay all claims involving all City vehicles regardless of kind and description, whether owned or leased by the City, and whether operated by full-time, part-time, paid or unpaid City employees for authorized City purposes. The Fund shall also be applied to vandalism and property damage to police cruisers and other vehicles owned and leased by the City or owned or operated by full-time, part-time, paid or unpaid City employees for authorized City purposes when no third party payment of insurance coverage is available.
(Ord. 187-2007. Passed 10-1-07.)
(b) The Vehicular Self-Insurance Fund shall be administered by the Law Director who shall have the same authority to administer, investigate, compromise, settle and pay claims within this Fund as are set forth in Section 127.04.
Claims in excess of the monetary authority of the Law Director shall be settled in accordance with the provisions of Section 127.04(c). The Law Director is further authorized to pay from the Fund, in addition to those costs set forth in Section 127.04(d), the salaries of such Assistant Directors of Law and other personnel necessary for the administration of the Fund, travel costs, seminars and any and all other related administrative costs.
(Ord. 58-90. Passed 3-12-90.)
(c) On January 1 of each year, Council shall deposit the minimum sum of two hundred thousand dollars ($200,000) in the Vehicular Self-Insurance Fund. In addition thereto, any moneys received as interest on investment of the Fund and any moneys recovered from third-party tortfeasors or their insurers shall be deposited in the Fund.
(Ord. 187-2007. Passed 10-1-07.)
(d) No moneys shall be transferred from the Vehicular Self-Insurance Fund nor shall the fund be terminated except by a vote of not less than three-fourths of the elected members of Council. (A.O.)