78-6017R139
RESOLUTION-NO. 6017
RESOLUTION.ESTABLISHING A.TRUST AND
AGENCY 'FUND FOR SELF-INSURANCE OF
WORKER'S COMPENSATION AWARDS AND..COSTS-'
WHEREAS, the annual premiums for worker's compensation insurance
have increased dramatically and have reached levels far exceeding-
the claims experience; and
WHEREAS, Minn. Stat., Chapter 176 allows municipal corporations
to self-insure worker's compensation payments without providing a
bond or other surety; and
WHEREAS, the City Charter provides for the establishment of
Trust and Agency Funds for the care and disbursement of money received
and held by the City as trustee or custodian or in the capacity of
an agent; and
WHEREAS, the City of Richfield, Minnesota, desires to self-insure
against workers'.:compensation awards and maintain policies of
insurance only for awards exceeding certain amounts;
NOW, THEREFORE, be it resolved by the City Council of the City
of Richfield, Minnesota, as follows:
1. That there be established a fund entitled "The Workers'
Compensation Trust and Agency Self-Insurance Fund". All awards. of
compensation, administrative costs, and legal fees related to workers'
compensation will be paid from said fund. .Payment of such awards, .costs
and legal fees from .the fund will commence January 1, 1979.
2. The City Manager is authorized to administer the fund and. to
delegate administrative functions to others of the City staff as he
shall deem appropriate, and should he deem it appropriate, retain a
professional workers' compensation administrator. The City Manager
is further authorized to pay all awards of compensation, costs of
administration and legal fees from thefund..
3. The City Manager is authorized. to .obtain policies of excess..
coverage insurance to protect against catastrophic. losses.
Passed by the City Council of the City of Richfield this 28th
day of December , 197 $ .
L ren L. Law Mayor
ATTEST:
~ ~~iC~~'`~~-~/ Clerk ',
Thomas J. ran City _
-2-