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<br />I <br /> <br />I <br /> <br />I <br /> <br />Sponsored by:~ <br /> <br />CITY OF SEWARD, ALASKA <br />RESOLUTION 2001-104 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, <br />ALASKA, APPROVING THE TRANSFER OF $51,291 OF AMUJIA <br />DIVIDEND MONIES FROM THE GENERAL FUND UNDESIGNATED <br />FUND BALANCE TO THE GENERAL FUND FUND BALANCE <br />DESIGNATED FOR INSURANCE RESERVES <br /> <br />WHEREAS, for the fifth consecutive year, the Alaska Municipal League Joint Insurance <br />Association (AMLIllA) has declared and paid to its participating members a dividend from the <br />insurance pool; and <br /> <br />WHEREAS, this year's dividend, in the amount of$51,291, has been received from the <br />AMLIllA; and <br /> <br />WHEREAS, the City of Seward designates a portion of the General Fund fund balance <br />received from insurance credits and charges, as an insurance reserve; and <br /> <br />WHEREAS, the City's goal is to fund the insurance reserve account to a minimum level <br />of$500,000, enabling the City to benefit from higher insurance deductibles and thereby lowering <br />its annual insurance contribution to the AML/nA insurance pool. <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br />CITY OF SEWARD, ALASKA, that: <br /> <br />Section 1. The City Manager is authorized to transfer the $51,291 AMLIllA dividend <br />from the General Fund undesignated fund balance account 101-0000-3050 to the General Fund <br />fund balance designated for insurance reserves, account 101-0000-3040. <br /> <br />Section 2. This resolution shall take effect immediately upon its adoption. <br /> <br />PASSED AND APPROVED by the City Council of the City of Seward, Alaska, this 27th <br />day of August, 2001. <br />