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To the extent permitted by law, the board of trustees, the trustees and the administrator shall be indemnified and held harmless against any and all liabilities (including defense costs and expenses) arising by reason of an act or failure to act in their fiduciary and administrative capacities to the system, and for liability and costs resulting from the acts and omissions of their duly appointed agents, except for those acts, omissions, or conduct resulting from their own willful misconduct, willful failure to act, or gross negligence.
(Ord. No. 11832, § 2, 5-4-21)
Pursuant to the city's risk management program, self-insured retention levels and reserve requirements will be established for classifications of risk, depending upon the reasonable availability of excess or stop loss insurance. The self-insured retention level for a particular type of a risk, if any, shall be established by the administrator in consultation with the finance director and the board of trustees.
(Ord. No. 11832, § 2, 5-4-21)
Sec. 18-12.1. The trust agreement may be amended by the mayor and council at any time, following consultation with the board of trustees.
Sec. 18-12.2. The mayor and council shall have the exclusive authority to terminate the City of Tucson Self-Insured Trust Fund, in accordance with the terms of the trust agreement.
(Ord. No. 11832, § 2, 5-4-21)