56-87 Establish fund for Self-insurance

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(e) The provisions of chis section may be amended from trine to time, and monies deposited to the credit of the Fund prior to any such amendment may be administered and/or expended in the manner provided by the amended provisions. Section 2. The sum of One Hundred Fifty Thousand Dollars ($150,000) shall be appropriated from the General Fund to the credit of the General Liability Self-Insurance Fund. Pursuant to Section 2744.08(A)(2)(a), Ohio Revised Code, the Director of Finance is hereby authorized to transfer, by way of administrative reimbursement, funds from the City's various funds and accounts to reimburse the General Fund, based upon his determination of the relative exposure and loss experience of the functions of the City financed from such funds and accounts. Section 3. It is found and determined that all formal actions of this Council concerning and relating to the passage of this ordinance were adopted in an open meeting of this Council, and that all such deliberations of this Council and any of its committees that resulted in such formal action, were in meeting open to the public, in compliance with all legal requirements. Section 4. That this ordinance is hereby declared to be an emergency measure necessary for the .immediate preservation of the public peace, property, health, safety and welfare in the City for the reasons set forth and defined in the preamble to this ordinance, and provided it receives the affirmative vote of two-thirds of all members elected to Council, this ordinance shall take effect and be in force immediately upon its passage by the Council and approval bY the Mayor; 9~w~se, it shall take effect and be in force after the earliest p_~ric~ allowed by law. passed: c:~ , 1987 -- __ Approved:~~~ , 1987 18S15/14282A -2-