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I I I Sponsored by: Janke CITY OF SEWARD, ALASKA RESOLUTION 2000-098 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA, TRANSFERRING THE AML/JIA DIVIDEND AND THE LELP RETROSPECTIVE CREDIT TOTALING $95,360 TO THE GENERAL FUND FUND BALANCE DESIGNATED FOR INSURANCE RESERVES WHEREAS, the Alaska Municipal League Joint Insurance Association (AML/nA) has declared and paid to its participating members a dividend in the amount of $86,758 from the insurance pool; and WHEREAS, the City of Seward also participates in the Law Enforcement Liability Pool (LELP) sponsored by the AML/nA for the provision oflaw enforcement coverage; and WHEREAS, the City has received a retrospective net credit for FY2001 in the amount of $8,602 for the LELP progam; and WHEREAS, the City of Seward designates a portion of the General Fund fund balance as an insurance reserve to account for additional insurance charges and credits to help fund unexpected, uninsured claims, insurance deductibles and insurance pool assessments; and WHEREAS, it is the desire of the City to continue to fund the insurance reserve account to an amount sufficient to offset any unexpected, uninsured claims, insurance deductibles and insurance pool assessments. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA, that: Section 1. The AML/JIA dividend in the amount of $86,758 and the FY2001 LELP net retrospective credit in the amount of $8,602 totaling $95,360 be transferred from the General Fund fund balance, account no. 101-??oo-3050 to the General Fund fund balance designated for insurance reserves, account no. 101-??oo-3040. Section 3. This resolution shall take effect immediately upon its adoption. PASSED AND APPROVED by the City Council ofthe city of Seward, Alaska, this 11 day of September, 2000.