HomeMy WebLinkAboutCity Council Resolution 1976-641i CITY OF PLYMDUni
Pursuant to due call and notice thereof, a, regular meeting of
the City Council of the City of Plymouth, Minnesota was a on the
1st day of November , 1976. The following members were
present: Mayor Hilde, Councilmen Hunt, Neils and Seibold
The following ers were sent: Councilman Spaeth
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Egun i1man, Seibold introduced the following Resolution and moved
A
adoption:
RESOLUTION NO. 76-641
AUTHORIZING THE TRANSFER OF FUNDS FROM THE GROUP HOSPITAL AND
SURGICAL INSURANCE ACCOUNT TO THE RESERVE FOR INSURANCE CLAIMS
WHEREAS, the City has purchased a contract which provides hospital and surgical
benefits for all permanent employees, and
WHEREAS, the policy purchased is a self-insurance plan for all claims totalling
less than $2,000 per individual during the policy year, and
WHEREAS, the Finance Director has recommended that a cash reserve be established
to provide the City with adequate funds in the event of claims being greater than
projected;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA that it should and thereby does establish an account known as the
Reserve for Insurance Claims.
FURTHER, that the sum of $6,200 be transferred from the Group Hospital and Surgical
Account (101-184-826) to the Reserve for Insurance Claims Account (101-000-374).
FURTHER, that the balance of the reserve account be.maintained at 25% of the
estimated claims for the following year by annually transferring the necessary
funds from the Group Hospital and Surgical Account of the General Fund.
The motion for the adoption of the foregoing Resolution was duly seconded
by Councilman Hunt , and upon vote being taken thereon, the
fol owing voted in favor ereof: Mayor Hilde, Councilmen Hunt, Neils
__andT Seibold
lne —.L -Lowing voiea againsr or aDstaznea: None
Whereupon the Resolution was declared duly passed and adopted.
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