30-14 Amend Insurance Provisions

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B. Expenses, including, but not limited to, claims - related expenses; C. Withdrawing excess funds as authorized by the Agreement; and D. Distributing funds upon termination of the Agreement, as authorized by the Agreement. (5) The sum of fifty thousand dollars ($50,000) shall be appropriated from the City's General Fund to the credit of the Recreational Self- Insurance Fund. Pursuant to Ohio R.C. 2744.08(A)(2)(a), 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 fimctions of the City that are financed from such finds and accounts. (b) The General Liability Self- Insurance Fund. (1) There is hereby established, in and for the City, pursuant to Ohio R.C. 2744.08(A)(2)(a), a special fund to be known as the "City of Lakewood General Liability Self-Insurance Fund" (hereinafter and otherwise referred to as the "General Liability Self- Insurance Fund" or the "Fund "). (2) Council may appropriate, on an annual basis and at such other times as it deems necessary or desirable, such amounts which it believes, in its sole discretion, will be sufficient to wholly or partially fund reserves to pay claims and claims expenses with respect to the City's liability to others aris- ing out of torts, including the City's duty, if any, to indemnify its employees and officials in a proper case. This subsection does not require that any claim reserve or other reserve be established or, if established, that it be fil- ly funded. (3) Moneys deposited to the credit of the General Liability Self - Insurance Fund may be expended for the following purposes: A. To pay claims, whether by settlement or upon final judgment; B. To pay claims - related expenses and other expenses related to the propose of the Fund; C. To purchase liability insurance; D. To make contributions for the services provided and the liability coverage extended by a joint self - insurance pool; E. To withdraw money for any lawfid use if Council determines that excess moneys are to the credit of the Fund; and F. To distribute any balance remaining in the Fund for any lawful use, as Council shall determine, upon the determination by Council that this Fund shall be terminated. (4) The interest paid on the investment of the moneys to the credit of this Fund shall be paid into the Fund.