HomeMy WebLinkAbout1986-2941 CREATING A “RISK MANAGEMENT RESERVE FUND” ORDINANCE NO. 2 9 4 1
AN ORDINANCE relating to funds and accounts; creating a "Risk
Management Reserve Fund", declaring the purpose thereof,
specifying the source of funds thereto and providing for
expenditures therefram; enacting Chapter 3.103 "Risk
Management Reserve Fund" and various sections thereof as
• a new Chapter and new sections of the City of Yakima
Municipal Code.
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. Chapter 3.103 "Risk Management Reserve Fund" and
sections 3.103.010, 3.103.020 and 3.103.030 thereof, are hereby enacted
as a new Chapter and new sections of the City of Yakima Municipal Code
to read as follows:
"Chapter 3.103
Risk Management Reserve Fund
3.103.010 Fund Created -- Purposes. There is hereby created a fund
to be known as the "Risk Management Reserve Rind." Money in this fund
shall be expended only to pay for city insurance premiums, civil legal
defense costs, court costs, settlements and judgments, except court
costs and judgments in personal injury claims.
3.103.020 Source of Funds. From time to time, the City Council
shall budget, appropriate or otherwise authorize the transfer of money
from any available source into such fund.
3.103.030 Expenditures. Expenditures from such fund shall be only
for the purpose mentioned in Section 3.103.010 of this Chapter. No
expenditures shall be made fram such fund unless the City Council
approves such expenditure by passing an ordinance appropriating money
within the fund for the purpose for which the expenditure is to be made,
or by including an appropriation for such purpose in the budget."
Section 2. This ordinance shall be in full force and effect thirty
days after its passage, approval and publication as provided by law and
by the City Charter.
PASSED BY THE CITY COUNCIL, signed and approved this \A day of
. 986.
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1 A Al I ' 4,4 1 • . A.1
11 MAYOR
ATTEST:
City Clerk
Publication Date FEB 1 1986
Effective Date MAR 1 7 1986
ORDI P1