(A) The city hereby approves the joint and cooperative program for self-insurance, insurance and the investment of public funds among the City of Florence and the other cities, urban-county governments and public agencies within the Commonwealth of Kentucky which become signatories to the Interlocal Agreement, including the financing of said program through the issuance of revenue bonds under the terms and conditions of the Interlocal Agreement.
(B) The city hereby approves and ratifies the Articles of Association and By-Laws for the Association, substantially in the form attached as Exhibit A to the Interlocal Agreement, and which are hereby incorporated by reference as if fully set forth herein.
(C) It is understood by the city that by executing the Interlocal Agreement and thereby becoming a member of the Association, the city shall incur no liability for the payment of any funds and that it shall be necessary for the city to take further action prior to becoming a "participating member" in any of the self-insurance, insurance or investment trusts which may be created by the Association.
(D) The effectiveness of this section is expressly conditioned upon the final approval of the Interlocal Agreement, substantially in the form attached to Ord. O-17-87 (and which is hereby incorporated by reference as if fully set forth herein), by the Attorney General of the Commonwealth of Kentucky, as required by KRS 65.260(2), and by any other officer or agency of the Commonwealth of Kentucky, as may be required by KRS 65.300.
(Ord. O-17-87, passed 6-2-87)