HomeMy WebLinkAboutCity Council Resolution 1983-621iirr„rRr r4trwwn ;.
Pursuant to due call and notice thereof, a re ula r__ emetine of
the City Council of the City of Plymouth, Minnesota was a on the
k Ith day of November r 19 83, The following members were
The follow_ng mem rs we -e absent: none
Councilmember Moen introduced the following Resolution and
moved its a option:
RESOLUTION NO. 83 - 621
TRANSFERRING THE RESERVE FOR GENERAL LIABILITY AND FIRE AND THE RESERVE FOR
HOSPITAL, SURGICAL AND DENTAL CLAIMS INSURANCE TO THE RISK MANAGEMENT FUND.
WHEREAS, the City of Plymouth has been self-insuring for various types of
insurance coverages since 1975, and
WHEREAS, our method of insuring has provided excellent protection at a
minimal cost, and
WHEREAS, the City Council has established a Reserve for General Liability
and Fire Insurance in the amount of $500,000 and a Reserve for Hospital/
Surgical and Dental Claims in the amount of $38,294, and
WHEREAS, the City has previously established a Risk Management Fund, and
WHEREAS, it is sound financial management to transfer the reserves totaling
$538,294 to the proper fund for accounting control purposes;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA that the reserves in the amount of $538,294 be transferred to the
Risk Management Fund.
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmember Thrienen , and upon vote being taken thereon, the
joijowing'va e n favor thereof: Mayor Davenport, Councilmembers Moen, Neils,
declared duly passe and adopted