(A) The city approves the joint and cooperative program for self-insurance, insurance and the investment of public funds as set forth in the interlocal agreement to establish the Kentucky Municipal Risk Management Association (KMRMA).
(B) The Mayor and the City Clerk are authorized and directed to execute the Interlocal Agreement to establish the KMRMA on behalf of the city.
(C) The city approves and ratifies the Articles of Association and Bylaws of the KMRMA, as amended.
(D) It is understood by the city that by executing the interlocal agreement to establish the KMRMA 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 before becoming a participating member in any of the self-insurance, insurance or investment programs which may be created and operated by KMRMA.
(E) It is understood that the KMRMA will begin operating a worker's compensation self-insurance group effective July 1, 1993, which will enable the city to obtain the necessary worker's compensation insurance coverage.
(Ord. O-13-93, passed 5-19-93)