(A) A fund is hereby established for the city to be known as the “Crawfordsville Employee Benefit Trust Fund,” which shall be a nonreverting fund, except as hereinafter provided for the disposition of the Fund. The Fund shall be maintained by the Clerk-Treasurer or such other person or organization as may so be designated by the Common Council.
(B) Moneys shall be deposited to the “Crawfordsville Employee Benefit Trust Fund” as follows:
(1) In each calendar year during the existence of this Fund, all moneys derived by the city from the various budgets of the city as have been provided for health insurance for employees of the city shall be deposited to such Fund on a regular basis by the Clerk-Treasurer.
(2) The Clerk-Treasurer shall also deposit in the Fund all such fees and moneys which are withheld from the wages and salaries of the employees of the city for the purpose of payment of health insurance premiums.
(C) The moneys in the Fund shall be paid out by the Clerk-Treasurer as provided by all rules and regulations heretofore made which are applicable to the Fund, and all rules and regulations which may be hereafter adopted by the Common Council or by such other persons who may be designated to have control of the Fund.
(D) It is understood that this Fund is to provide the funds necessary to cover the payment of premiums for health insurance for the city and its employees, which has been previously provided by Blue Cross-Blue Shield Insurance, prior to the effective date of transfer of such obligation to this Fund.
(E) The Board of Public Works and Safety is hereby authorized to negotiate an agreement for health care insurance coverage for the employees of the city, and report the results of said negotiations to the Common Council for its consideration and approval, and that such agreement shall be consistent with this section, and shall also provide for health care services to the employees of the city of at least equal value as the Blue Cross-Blue Shield health care services previously provided. Representatives of the Crawfordsville Electric Light and Power Utility shall be invited to join the Board of Public Works and Safety in the above negotiations.
(F) Any excess funds remaining in the “Crawfordsville Employee Benefit Trust Fund” in a given year, after payment of all expenses, shall remain in such Fund and shall become non-reverting and shall always be available for the funding of health care coverage for the employees of the city; however, the Common Council, if it deems that a surplus exists in such Fund that may not be necessary to fund the health care services, may, after declaring that such a surplus exists, consider reducing premiums of both the city and employees during the next fiscal year, or increasing benefits to both, or appropriate such surplus moneys to the General Fund of the city.
(Ord. 2-1986, passed 1-13-1986)