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1 salary expense subject to state industrial and medical aid coverage. Effective January <br /> 2 1, 1979, the money deposited in the fund shall be from general revenue and from utility <br /> 3 fund revenue. The interest earned from the investment of temporary idle money in the <br /> 4 fund shall be deposited in this fund. <br /> 5 Section 3: Expenditures from the Workers' Compensation Self-Insurance Fund <br /> 6 may be made only for: <br /> 7 a. Workers' Compensation claims. <br /> 8 b. Fees for administration and claims management services. <br /> 9 c. Deficits owed to the State on prior claims. <br /> 10 d. Insurance premium for excess liability policy to insure against <br /> catastrophic loss. <br /> 11 <br /> e. Interest at the rate of 5 percent per year on the interfund loan <br /> 12 from the L.I.D. Guaranty Fund. <br /> 13 f. Any other expense or cost arising out of the City's obligations as a <br /> self-insurer under the State Industrial Insurance Act. <br /> 14 <br /> Section 4: No expenditure shall be made from the fund unless money has been <br /> 15 <br /> transferred into the fund. No expenditure shall be made for workers' compensation <br /> 16 <br /> claims unless they have been approved for payment by the service agency contracted <br /> 17 <br /> for administration and claims management services and/or the City. <br /> 18 <br /> Section 5: The City has placed $100,000 in an escrow account to satisfy the <br /> 19 <br /> requirements of the law of self-insurers and to insure the continued financial <br /> 20 <br /> responsibility of the City. <br /> 21 Section 6: The City has established a $100,000 reserve account as a <br /> 22 requirement of the law of self-insurers. The purpose of this reserve is to give added <br /> 23 assurance to the payment of unexpected or unusually large claim costs. <br /> 24 <br /> 25Aiorir <br /> / <br /> 26 MAYOR <br /> 27 ATTEST: <br /> 28 <br /> 29 City Clerk DEPUTY <br /> 30 Passed: ' �i /2 <br /> 31 <br /> Valid: , eP, /7 7i <br /> Published: 3// / 9 7 <br /> 32 <br />