(A) The city shall deposit into said fund sufficient revenues to pay insurance premiums, charges, claims, and costs associated with its medical, hospitalization, healthcare, dental, and optical insurance plans. Further, refunds from any third party insurance providers may be deposited in said fund.
(B) All proceeds deposited in said non-reverting fund shall be used at the discretion of the Board of Public Works and Safety solely for the payment of premiums, claims, costs (including but not limited to court costs, litigation expenses and reasonable attorney fees) and charges associated with the city's various medical insurance benefits for its employees and elected officials.
(C) Said fund shall be a non-reverting fund and monies deposited therein shall accumulate for the purposes set forth hereinabove.
(Ord. 3417, passed 1-5-05)