(A) The city approves the joint and cooperative program for self-insurance, insurance and the investment of public funds among the city and the other cities, urban-county governments and public agencies within the commonwealth 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.
(Prior Code, § 2.28.010)
(B) The Mayor and the City Clerk-Treasurer are authorized and directed to execute, acknowledge and deliver, on behalf of the city, the interlocal agreement, substantially in the form attached to the ordinance codified in this section.
(Prior Code, § 2.28.020)
(C) The city approves and ratifies the articles of association and bylaws of the state’s Municipal Risk Management Association (“Association”) substantially in the form attached to the ordinance codified herein and on file in the office of the City Clerk-Treasurer.
(Prior Code, § 2.28.030)
(D) 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.
(Prior Code, § 2.28.040)
(E) The effectiveness of this section is expressly conditioned upon the final approval of the interlocal agreement, substantially in the form attached to the ordinance codified in this section, by the Attorney General of the commonwealth, as required by KRS 65.260(2), and by any other officer or agency of the commonwealth, as may be required by KRS 65.300.
(Prior Code, § 2.28.050)
(Ord. passed 6-8-1987)