(a) There is hereby established a special account within the City and administered by the City Auditor's Office for insuring the City against liability.
(b) Each department within the City shall contribute to such insurance account an amount based seventy-five percent (75%) upon claims made against each department in the preceding two year period and twenty-five percent (25%) upon the proportionate share of the department's salary account compared with the total appropriation for all salaries set or governed by the ordinances of the City or by Council, including judicial salaries. The foregoing departmental shares and contributions to the self-insurance account shall be determined by a committee consisting of the President of Council, the Mayor and the Auditor.
(c) The insurance account is to be brought up to a balance of two hundred thousand dollars ($200,000) annually.
(d) Idle funds within such account are to be invested by the City Treasury Investment Board.
(Ord. 100-85. Passed 9-9-85.)
(Ord. 100-85. Passed 9-9-85.)
(e) There shall be no claims paid out of the self-insurance account of the City, without the prior approval and consent of City Council, except the Self-Insurance Claims Board, consisting of the chairman of the Finance Committee of Council, the City Auditor and the City Purchasing Agent, whom may settle and authorize payment of claims under one thousand dollars ($1,000) administratively, without prior consent of Council, but rendering annual reports to Council of any such administrative claims settlements. This subsection (e) shall be effective as to any claims made or arising retroactive to July 1, 1985.
(Ord. 20-86. Passed 3-24-86.)