A. Property Insurance: The Town Board of Trustees may insure Municipal property as authorized by Oklahoma Statutes. Any money received as a result of destruction, damages or loss of such insured property shall be accounted for and used as provided by the Statutes.
B. Vehicle And Equipment Insurance: The Town Board of Trustees may purchase insurance to pay damages to persons sustaining injuries or damages to property as a result of negligent operation of motor vehicles or motorized equipment of the Town. (2011 Code § 12-16)