(a) Procedures. The City hereby authorizes the procedure described in Ohio R.C. 3929.86(C) and (D) to be implemented, whereby no insurance company doing business in the State shall pay a claim of a named insured for fire to a structure located within the City unless the applicable provisions of Ohio R.C. 3929.86 are fully complied with. The Fire Chief is hereby designated as the officer authorized to carry out the duties of Ohio R.C. 3929.86.
(Ord. 4331. Passed 3-15-83.)
(b) Escrow Account.
(1) Council hereby authorizes the Finance Director to set up an escrow account at an appropriate financial institution for the purpose of holding any moneys received for fire damaged structures pursuant to subsection (a) hereof.
(2) The Finance Director, upon the recommendation of the Fire Chief, shall make withdrawals from the account consistent with subsection (a) hereof and Ohio R.C. 3929.86. All withdrawals shall be in accordance with existing City rules and ordinances for vouchers, purchase orders and competitive bidding
(Ord. 4330. Passed 3-15-83.)