HomeMy WebLinkAbout03-188 - ADMIN Resolution - City Council - 2003/12/15•
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RESOLUTION NO. 03-188
RESOLUTION AUTHORIZING RESERVATION OF UNINSURED
LOSS FUND BALANCE FOR THE PURPOSE OF
OUTSTANDING WORKERS COMPENSATION CLAIMS
WHEREAS, the Uninsured Loss Fund was established by ordinance on Apnl 2, 1990,
and,
WHEREAS, there is sufficient funds in the Uninsured Loss Fund to reserve for payment
of outstanding workers compensation claims, and;
WHEREAS, the City of St Louis Park has the responsibility of paying for workers
compensation claims incurred dunng the time the City was self-insured, and;
WHEREAS, the estimate of outstanding workers compensation claims will be reviewed
each year, and,
WHEREAS, effective December 1, 2003, the City of St Louis Park became fully
insured for workers compensation, and,
NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF ST. LOUIS PARK, MINNESOTA, that $500,000 be reserved in the Uninsured Loss
Fund balance for the purpose of paying outstanding workers compensation claims
for Administration.
City
Attest.
•
Adopted by the City Council December 15, 2003
'4 )a-04