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/ <br /> �� �� . <br /> � o 0 <br /> ��b. - CITY of ORONO <br /> � � <br /> �,� G'� � RESOLUTION OF THE CITY COUNCIL <br /> ��kEsKO4� rvo: 4 �: p � <br /> A RESOLUTION TO CREATE THE INSUR.ANCE FUND, <br /> AN INTERNAL SERVICE FUND <br /> WHEREAS, it is advantageous to centralize the provision of certain goods and <br /> services within the City in an internal service fund type,thereby providing a useful means <br /> of accounting for such centralized intragovernmental activities; and <br /> VV�EREAS,the City has risk exposures common to activities of its various funds; <br /> NOW THEREFORE BE IT RESOLVED, that the Orono City Council, hereby <br /> authorizes the creation,of the Insurance Fund, an Internal Service Fund, to be effective <br /> January 1, 2000. <br /> BE IT FURTHER RESOLVED, that the General Fund provide initial funding to <br /> • the Insurance Fund through an operating transfer of$123,900, effective January 1, 2000; <br /> and that any dividends received from the City's insurer be deposited in the Insurance <br /> Fund; and that the Insurance Fund participate in the City's pooled investment program; <br /> and that the Insurance Fund shall recover the annual insurance expense in amounts as <br /> budgeted in the various departments and funds of the City. <br /> Adopted by the City Council of the City of Orono, Minnesota at a regular meeting <br /> held December 13, 1999. . <br /> ATTEST: <br /> ���-��/�.. <br /> Linda S. Vee, City Clerk Gabri 1 Jabbour,Mayo <br /> TOh14�ISW�RESINSFD <br /> • <br />