12/28/1992 Meeting Minutes - Laserfiche WebLink

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Special Council Minutes of 12/28/92 LEGISLATION (continued) approximately 31 - 38--which is for excess insurance. The approximate $400 monthly cost is not paid to an insurance company. It is transferred to the Hospitalization Fund within the city. By putting money into this reserve fund, a catastrophic payment could be made if necessary. This method helps to drive costs down and is the basic theory behir~. self-insurance--to keep the money here in the city. Some cities who are self-insured do not have a reserve fund. They simply pay costs as incurred. By having the reserve fund, vur General Furxi is maintained. Roll call on the motion for adoption: Lind, yes.; Babas, yes; Leonard, yes; Missal, no; McKay, yes; Nashar, yes; Saringer, yes. Motu passed with six affirmative votes and one negative vote. Ordinance No. 92-173 adopted. Ordinance No. 92-176 introduced by Mayor Boyle was given its second reading. An ordinance establishing arxii fixing the compensation for the Mayor of the City of North Olmsted for the term of office ccxmyencing January 1, 1994 and ending December 31, 1997, and declaring an urgency, as amended. Ordinance No. 92-177 introduced by Mayor Boyle was given its second reading. An ordinance establishing and fixing the compensation for the Director of Law of the City of North Olmsted for the term of office commencing Jarn~ary 1, 1994 and ending December 31, 1997, and declaring an emergency. Ordinance No. 92-178 introduced by Mayor Boyle was given its second reading. An ordinance establishing ark fixing the compensation for the Director of Finance of the City of North Olmsted for the term of office commencing January 1, 1994 and ending December 31, 1997, and declaring an emergency. Ordinance No. 92-179 introduced by Mayor Boyle was given its second reading. An ordinance establishing and fixing tl~ compensation for the President of Council of the City of North Olmsted for the teen of office commencing January 1, 1994 and ending December 31, 1997, and declaring an emergency. Ordinance No. 92-180 introduced by Mayor Boyle was given its second reading. An ordinance establishing and fixing the canpensation for the Ward Council Members of the City of North Olmsted for the term of office commencing January 1, 1994 and ending December 31, 1997, and declaring an emergency. Ordinance No. 92-182 was introduced and placed on first reading by Mayor Boyle. A resolution supporting Jump-Start America, and declaring an urgency. Ordinance No. 92-183 was introduced and placed on first reading by Mr. Lind. An ordinance to transfer and make appropriations for current expenses aril other expenditures for the City of North Olmsted for the year ending December 31, 1992. Ordinance No. 92-184 was introduced and placed on first reading by Mr. Lind. An ordinance authorizing the Mayor aril Finance Director to execute a $2,758,204 promissory note payable to the Ohio Public Works Commission for the purpose of Wastewater Treatment Plant rehabilitation. Resolution No. 92-185 was introduced and placed on first reading by Mayor Boyle an behalf of himself and the entire Council. A resolution irz protest of recently announced cuts in public transportation and fare increases by the Greater Cleveland Regional Transit Authority and the method by which they were determined, and 3