HomeMy WebLinkAboutCC Res 3360 1984-06-11
RESOLUTION NUMBER #ifJ6o
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SEAL BEACH ADJUSTING FUND BALANCES
IN THE LIABILITY INSURANCE RESERVE FUND
AND THE SELF-INSURER'S LOSS RESERVE FUND
I
THE CITY COUNCIL OF THE CITY OF SEAL BEACH DOES HEREBY RESOLVE:
WHEREAS, it has been determined by the City's insurance adjusters
that the future liability in the area of liability claims
against City is $250,000; and
WHEREAS, it has been determined by the City's Workers' Compensation
administrators that the City's future liability in the
area of workers' compensation claims is $286,500.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City
of Seal Beach does hereby authorize a fund balance of $250,000
in the Liability Insurance Reserve Fund with all funds in excess
of that amount to be transferred to the General Operating Fund.
Be it further resolved that the City Council of the City of Seal
Beach does hereby authorize that the Self-Insurer's Loss Reserve
Fund be increased to $286,500 to be made up by funds transferred
from the General Operating Fund.
PASSED, APPROVED AND ADOPTED by the City Counc~f the C'
Sea 1 Beach at a meet i ng thereof he 1 d on the .4 _ day of
1984, by the following vot .
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I AYES: Councilmember
NOES: Counci lmembers
ABSENT: Councilmembers
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, y Clerk /
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ATTEST:
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
CITY OF SEAL BEACH )
I
I, Joanne M. Yeo, City Clerk of the City of Seal Beach, California,
do hereby certify that the~r going resolution is the original
copy of Resolution Number on file in the office of the City
Clerk, p d. approved and a opted by the City Council of the~~
City of ea Beach at a regular meeting thereof held on the ~
day of , 1984.
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