HomeMy WebLinkAbout1985 103 CC RESO1985 103 CC RESO ;¢fì ù a RESOLUTION NO. 85-103
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF BALDWIN PARK,
CALIFORNIA, AMENDING RESOLUTION
NO. 77-65 ESTABLISHING A LIABILITY
INSURANCE RESERVE FUND
WHEREAS, the City of Baldwin Park has undertaken to become
self insured to a limited extent of the purpose of public
liability insurance;
WHEREAS, the contract authorized by the City Council now
provides for a $250,000 self insured provision, without a
yearly aggregate stop loss; and
WHEREAS, to carry out the provisions of said self insurance
program, it is required that the City amend the formal loss fund
to pay losses within the self insured retention and prohibit the
use of these funds for any other purpose until the losses are
actually paid; and
WHEREAS, it is estimated that $250,000 would be adequate to
fund said formal loss fund, which will be entitled The Liability
Insurance Reserve Fund"; and
WHEREAS, This City Council is desirous at this time and deems
it to be in the best public interest to so amend said Liability
Insurance Reserve Fund
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Baldwin Park, California, as follows:
1. That the above recitations are true and correct.
2. That the formal loss fund is hereby amended to pay losses
within the City*s self insured retention to be entitled The
Liability Insurance Reserve Fund". This fund is to be utilized
for this purpose only and cannot be expended for any other purpose
until losses within the self insured retention are actually paid.
3. That the City Clerk shall certify to the adoption of this
resolution and shall forward certified copies thereof to the
Personnel Officer.
PASSED, APPROVED and ADOPTED this Ct^^d^y of November, 1985.
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a^^^^r
s=MAYOR
ATTEST:
LTODA L. GA^R, CITY CLERK
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1985 103 CC RESO ;¢fì ù a Resolution No. 85-103
Page 2
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES) SS:
CITY OF BALDWIN PARK
I, LINDA L. GAIR, City Clerk of the City of Baldwin Park do
hereby certify that the foregoing resolution was duly and regularly
approved and adopted by the City Council of the City of Baldwin
Park at its regular meeting of the City Council on the 6th day
of November, 1985, by the following vote:
AYES COUNCILMEN IZELL, GIBSON, KING, MCNEILL AND MAYOR WHITE
NOES COUNCILMEN NONE_______________________________________
ABSENT: COUNCILMEN NONE_______________________________
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LitSIDA L. GAIRy^CITY CLERK
BIB]
37847-U01
1985-U02
103-U02
CC-U02
RESO-U02
LI3-U03
FO2126-U03
FO10071-U03
DO20650-U03
C6-U03
RESO-U03
8/13/2003-U04
ROBIN-U04