A Claims Review Committee is established. It shall consist of the City Attorney and the attorneys for the following boards or commissions: New Albany Parks Board, city Plan Commission, Police Merit Board and New Albany Housing Authority. The City Attorney shall act as chairperson of the Committee. The Committee shall:
(A) Approve or disapprove the settlement of any claims to be paid from the Liability Reserve Fund;
(B) Make recommendations as to a city-wide program of loss control and risk management to minimize the liabilities of the city;
(C) Contract with any persons or entities to obtain or to provide the service of risk managers, loss control specialists, claims adjusters, attorneys and other professionals in carrying out the powers and duties under this subchapter and to pay for those services from the Fund;
(D) In case of liability settlement in excess of the amount remaining in the funds in any one year, the Committee may approve the payment of the settlement or judgment over a period of three years, with the interest at the rate of 8% per annum; and
(E) Approve a structured settlement of any claim.
(Ord. G-86-142, passed 6-2-1986)