HomeMy WebLinkAboutCC Res 3844 1989-04-03
RESOLUTION NUMBER ~~
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SEAL BEACH, AUTHORIZING A TRANSFER OF FUNDS
FROM THE GENERAL FUND TO THE PUBLIC LIABILITY
RESERVE FUND IN THE AMOUNT OF FOUR HUNDRED
TWENTY THOUSAND DOLLARS (420,000)
THE CITY COUNCIL OF THE CITY OF SEAL BEACH DOES HEREBY RESOLVE:
WHEREAS,
City of Seal Beach is a participating member of the
OCCRMA and desires to adhere to said organization's
guidelines, and
Ii
I
WHEREAS,
each participating member of OCCRMA is expected to
~aintain a reserve fund approximately three times
its self-insured retention, and
WHEREAS,
the Public Liability Reserve of the City of Seal
Beach is presently maintained at a level which is
below the OCCRMA standard.
NOW, THEREFORE, BE IT RESOLVED that the sum of $420,000 shall be
transferred to the Public Liability Insurance Reserve from the
General Fund of the City of Seal Beach.
PASS~ APPROVED AND ADOPTED by the City Council ~ ~he City of
Seal acp, at a meeting thereof held on the ~~ day of
~~:l , 1989, by the following vote:
AYES:
Councilmembers
.1A4~
NOES:
Councilmember
I
ABSENT:
Councilmembers
~?~
ATTEST:
STATE OF CALIFORNIA)
COUNTY OF ORANGE )SS
CITY OF SEAL BEACH )
I, Joanne M. Yeo, City Clerk of the City of Seal Beach,
California, do hereby certify that the_10Je~oing resolution is the
original copy of Resolution Number .3E1~~ on file in the I
office of the City Clerk, passed pproved, and adopted by the
City Coun~~ 9f the City of Se eac~ at a meeting thereof held
on the ~~ day of , 1989.