HomeMy WebLinkAboutOrd 1161ORDINANCE rro. z?�1
ORDI?QANCE AMENDING SET p NSURANCE
RESERVE REQUIREME?TS
The CI'T'Y COUNCIL of the City of Burlingame does ORDAIN
as follows:
Section 1. Section 4.14.010 of the Burlingame Municipal
Code is hereby amended to read as follows:
"4.14x010 Workers° compensation fund.
The worxers' compensation fund is established and
shall be maintained for the deposit of all moneys budgeted
for payment of workers' compensation claims under the
city`s self-insurance program. It shall also be the
depository for temporary disability payments recovered
from third parties or received while the employee is
disabled and is receiving full salary under the provisions
of the California Labor Code or city ordinances or agree -
mems. Payments therefrom shall be made for all proper
industrial injury claims against the city and for e�.-
penditures related to said program.
The fund shall be established and amounts accumulated
therein
until it
is equal to two
and one-half times
the
current
manual rates
as determined
each fiscal year.
.-
All earnings
from
investments of
the fund, and all
state
mandated
benefit
costs recovered,
shall also accrue
to
the fund."
Section_ 2. Section 4.14.020 of said Code is hereby
amended to -read. as `ollo�Ts:
°'4.14.020 General liability and property damage fund.
The general liability and property damage fund is
established and shall be maintained for the deposit of
11/28/79 1
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all moneys budgeted for payment of general liability
and property damage claims under the city's self-
insurance program. It shall also be the depository for
any payments received from third Darties for reirnburse-
went of city insurance payments. Payments therefrom
shall be made for all proper general liability and property
damage claims against the city and for expenditures
related to said program.
The fund shall be established and amounts accumulated
therein to maintain a sum equal to three times the current
self-insurance retention, as determined at the beginning
of each fiscal year. All earnings from investments of
the fund shall be accrued to the fund."
Section 3. This ordinance shall be published as
required by law.
I, EVELYN ri. HILL, City Clerk of the City of Burlingame.
hereby
certify that the foregoing Ordinance
was
introduced at a
regular
meeting of the City Council held on
the
3rd day of
December,
1979, and was adopted thereafter at a
regular meeting
of the
City Council held on the 17 day of
December
19 7e9,
by the
following vote:
AYES:
COUNCILMEN: AmstruD�Qarton-Crosby•Hangir(I-14.rlin
NOES:
COUNCILMEN: Norse
ABSENT: COUNCILMEN: \fvub
City Clerk