93-68RESOLUTION NO. 93-68
CITY OF OTSEGO
RESOLUTION ESTABLISHING AN ACCOUNT
FOR SELF -FUNDING INSURANCE
WHEREAS, the City of Otsego from time to time receives refunds on
insurance premiums paid, and
WHEREAS, the City of Otsego has deductible amounts for Insurance
that can be increased if we have monies in a reserve fund to cover such amounts, and
WHEREAS, we have received a check from the League of N innesota
Cities Insurance in the amount of $1,412.00 as a refund of Workmen's Compensation
reserves, and from time to time receive refunds,
NOW THEREFORE; The City of Otsego will establish an account for Insurance
refunds, the purpose will be to increase deductibles and lower the yearly premium of the
City Insurance monies paid and to work towards the goal of lower insurance premiums,
thru a self-insurance fund.
Dated this 22nd day of November, 1993.
CITY OF OTSEGO:
NOM F FRESKE, MAYOR
TTEST:
ROMr:FERRAULT, CLERK
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