HomeMy WebLinkAbout1981-06-16; City Council; Resolution 65851
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RESOLUTION NO. 6585
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF CARLSBAD, CALIFORNIA ESTABLISHING A WORKER'S
COMPENSATION SELF-INSURANCE REVOLVING FUND AND
APPROPRIATING FUNDS.
WHEREAS, the City Council of the City of Carlsbad has estab-
.ished a program of worker's compensation self-insurance; and
WHEREAS, the City Council desires to establish a fund from
Jhich to pay various expenses involved in worker's compensation
;elf-insurance program; and
WHEREAS, the City Council desires to establish certain
:ontrols on expenditures from the worker's compensation self-
insurance program.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
3ity of Carlsbad as follows:
1.
2.
3.
4.
5.
That the above recitations are true and correct.
That there is hereby established a fund to be known
as the Worker's Compensation Self-Insurance Revolving
Fund.
That appropriations should be made annually duving
succeeding fiscal years in order to establish and
maintain a minimum balance of five hundred thousand
dollars ($500,000) in fund.
That interest earnings on the balance in said fund
shall be deposited into said fund.
That expenditures from said fund shall be limited to
the following purposes:
A. To pay premiums on excess worker's compensation
insurance policies.
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B. To pay worker's compensation claims within the city's
self-insured retention.
C. To pay worker's compensation administration, adjust-
ment and legal expenses.
6.That the sum of fifty thousand dollars ($50,000) is hereby
transferred from the insurance account (1-103-2870) to the
Worker's Compensation Self-insurance Revolving Fund.
7. That the sum of one hundred fifty thousand dollars
($150,000) is hereby transferred from trust fund (65-515-0519)
to the Worker's Compensation Self-insurance Revolving Fund.
PASSED, APPROVED AND ADOPTED at a regular meeting of the
City Council on the 16th day of June 1981
by the following vote, to wit:
AYES:
NOES : None
Council Members Packard, Casler, hear, Lewis and Kdchin
ABSENT: None
RONALD C. PACKARD, Mayor
ATTEST :
rk