123.24 SELF-INSURANCE FUND.

(a) There is hereby created a Self-Insurance Fund to account for the operation of a self-insurance program, including the payment of claims and deductibles.

(b) The total amount of money reserved in the Self-Insurance Fund shall be based on sound financial and actuarial principles.

(c) Excess reserves that may accumulate in the Self-Insurance Fund can be used to pay the City's and employees' contribution to the premium costs.

(Ord. 3036. Passed 11-15-18.)

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