Laserfiche WebLink
• <br /> • <br /> re TT <br /> ORDINANCE NO. gOcR99— 9T <br /> AN ORDINANCE establishing a Cumulative Reserve Fund for Tort Claims and <br /> Insurance including payment of settlements and judgments, costs <br /> and expenses; merging therein the Cumulative Reserve Fund for <br /> the payment of claims and judgments against the City of Everett <br /> arising out of torts; and amending Section 2 of Ordinance No. <br /> 3506. <br /> WHEREAS, in 1955 the City of Everett created a Cumulative Reserve Fund for the <br /> payment of claims and judgments arising out of torts; and <br /> WHEREAS, during recent years, all tort claims management and self-insurance <br /> activities have been budgeted to and paid out of said fund; and <br /> WHEREAS, the City now desires to include the budgeting and payment of liability and <br /> casualty insurance premiums from said fund; <br /> NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN: <br /> Section 1: There is hereby created a Cumulative Reserve Fund for Tort Claims and <br /> Insurance, including payment of settlements and judgments and costs and expenses <br /> relating thereto and payment of liability and casualty insurance premiums. (It is not <br /> intended that said fund shall be budgeted for or pay employee health insurance or <br /> death and disability insurance.) <br /> Section 2: Section 2 of Ordinance No. 3506 which reads as follows: <br /> That all funds now in or hereafter transferred to the Cumulative Reserve <br /> fund shall be used only for the payment of claims and judgments against <br /> the City of Everett arising out of torts and shall be expended for such <br /> purpose upon the direction of the City Council of the City of Everett. <br /> is hereby amended to read as follows: <br />