HomeMy WebLinkAbout90-38 - ADMIN Resolution - City Council - 1990/04/02RESOLUTION NO. 90-38
RESOLUTION ESTABLISHING CRITERIA FOR USE
OF THE UNINSURED LOSS FUND ASSETS
WHEREAS, the City Council of St. Louis Park has established an
Internal Services Fund entitled the Uninsured Loss Fund; and whose purpose is
to provide funding for major liability losses in lieu of excess/umbrella
liability insurance.
WHEREAS, the City Council of St. Louis Park desires to provide
criteria and restrictions for use of the Fund's assets now therefore,
BE IT RESOLVED, by the City Council of St. Louis Park that the
Fund's balance be established as a permanent budget appropriation; and
BE IT FURTHER RESOLVED, that sums of the Fund's unexpended balance
may be transferred to other Funds for purposes other than payment of claims
for uninsured losses through Council Ordinance, passed by an affirmative vote
of at least five members of the Council pursuant to Section 6.07 of the City
Charter. Expenditures for the Fund's intended purpose will be processed using
the City's usual payment procedures.
Adopted by the City Council April 2
Attest:
Reviewed for Administration
!?/ 4j(pl,,
City Manager
May
1//99ff 0
79/?1"de
Approved as to form and execution
)1O OOL Sho o
City Attorney