The Common Council of the city does hereby approve the establishment of an insurance fund created for the following purposes:
(A) To pay for services and charges as specified in any Shared Funding Insurance Agreement entered into between city and a claims administrator;
(B) To pay covered claims of employees of the city;
(C) To pay the salary of the city's in-house benefits admnistrator and to other in-house costs associated with the administration of the city's employee health benefits program.
(Ord. S-166-91, passed 7-16-91)