A. General Liability Reserve Account: A general liability reserve account shall be established and included in each successive annual city budget, in such an amount as determined by the mayor and board of commissioners, which account shall be used to pay general claims, liabilities and expenses of the city necessary to compromise and settle claims and lawsuits filed against the city, its officers and employees, except as herein provided.
B. Workers' Compensation Reserve Account: A workers' compensation reserve account shall be established and included in each successive annual city budget, in such an amount as determined by the mayor and board of commissioners, which account shall be used to pay all workers' compensation claims, judgments, settlements, medical payments and other expenses of the city necessary to compromise, settle and extinguish all liabilities, claims and lawsuits filed against the city and its employees, except as herein provided. (1994 Code § 2-12)