A. Property Insurance: The city council may insure property of the city or purchase other insurance as authorized by 51 Oklahoma Statutes section 151 et seq., and 19 Oklahoma Statutes section 627. Any money received as a result of destruction, damages or loss of such insured property shall be accounted for and used as provided by said section 627. (2002 Code § 3.12.040; amd. 2013 Code)
B. Vehicle Insurance: The city council may purchase insurance to pay damage to persons sustaining injuries or damages to property as a result of negligent operation of motor vehicles or motorized equipment of the city, as authorized by 51 Oklahoma Statutes section 151 et seq. (2002 Code § 3.12.040)