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ORDINANCE 110. 493 ??.7 .
All ORDINANCE ESTAilI.ISlI NG All Ili'IM110$ RE9MVE
MID FOR THE CITY OF CI.EARWATIM, AIM TROVIDING
FOR TII_ ADMIHISMITION OF SAID MID.
DE IT ORDAINED BY THIC CITY 0011113SIOll OF THE CITY OF CVtARWATM:
i 1. It is 0oroby deolnred to be the policy of the City of Clenrwater
that the City alinll, wholly or in part, carry its own insurance risks in order to
effect anvingn on premiums l;crctofore paid to insurnnoo compnniea.
..1. A fund to be knows as the Insurance Reserve Fund of the City of
Clearwater in hereby antnblished. The City Manager is hereby directed to trnnsfer
$259000 to the credit of said Fund immodintoly, said money to be transferred from
surplus profits of the Gas and Water Department. And the City Manager is further
diraetod to request authority from the City Commission for the transfer of addition-
al money to snid Fund, from time to time, as needed.
3. The Inaurencr Reserve Fund shall be deposited in nomo bank or
banks in Clearwater, and shall be kept entirely separate and distinct from all other
funds belonging to the City. The City Manager shall have authority too :Hake with-
drawals from the insurance Reserve Fund, but every such withdrawal shall first be
authorized in writing an hereinafter not forth. Surplus monies in the Insurance
Reserve Fund may be invented in United States Government bonds or in bonds of the
City of Clearwater; but all such bonds shall be kept entirely separate from all other
Securities ovmod by the City and shall be distinctly ear-marked an belonging to the
Insurance Reserve Fund.
4. An Insurance Committee is hereby established to he composed of the
Mayor-Commissioner, City Auditor and Clerk, and the City Attorney. Any claim involv-
ing $00.00 or less may be paid on the recommendation of the City Manegor and the
written approval of the City Attorney. Any-olaim involving more than $500.00 shall not
be paid until such payment has been recommended by the City Manager and approved in
writing by each member of the Insurance Committee.
5. 111henever a loss occurs, it shall be the duty of the head of the de-
part.ment in whioh the loss occurs to report the lose to the City Manager, in writing.
Such report shall give full details concerning the loss, including an estimate of the
amount of money necessary to compensate for the loss. If the loss involves ft500.00 or
less, the City Manager shall forward the report of lose, or a copy thereof, to the City
Attorney with his recommendations. If the loss involves more than $500:00, the City
Manager shall forward a copy of the report of loss to ench member of the Insurance
Cemmittee, together with his recommendation. Each report of loss shall be kept on file
at the City Hall for a period of one year after it has been acted on, and may thereafter
be destroyed.
6. The City Manager is authorized, beginning with the fiscal year
commenc- ing July lst, 1843, to reduce the amount of fire, windstorm, liability, workmen's com-
1i D pensation, and other insurrnce carried by the City of Clearwater, and to continue to make
such reductions as the Insurance Reserve Fund is increased. The City Manager is author-
ized to sue his discretion in making such reductions, end may reduce the amounts of some
types of insurance carried by the City, or may cancel some types altogether, as he thinks
best. Provided, however, that the City shall not be permitted to be without insurance
pwoteetion of any kind except when the insurance reserve fund amounts to $50,000 or more.
nri.G??i'r..rlii.?! - - - _J_ '4- __-.?fT?'44.wa.iirfMi ?i..".-y`•-+i+rr'al.arc.........•wrr•?,_? ?. e.. r•?......i..r_..w.....? 1?w.wr..ri ----.?..?..a
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" 7. All ordinanaea or parts of ordinances in conflict herewith
are hereby rapealod.
S. 'This ordinance shell take effect Immediately upon its pass-
age and adoption by the City Comninsion of the City of Clearwater, Florida.
Ak
R Z S 0 L U T I G H
ti4HEMS, by Ordinance No. 488 adopted on April 20th, 1942, the City of
k Clearwater granted a bus franchise to Li. F. Hnll, which franchise is still in full
fares and effect and in good standing; and
WHM= 14. F. Hall has entered into an agreement to sell his bus business
and all equipment to C. R. Niclnaen, said sale necessitating a transfer of the
frenchise?to the purchaser; and
-?ii.:.a1..tkL3.4:.?..s,.......... ...... o.» , ,,F ....yP•L'."+._.,.,--, ?.'.'° . s!!`-..N.i?._..'....?. ,....... .....,.. ... ...r...... ---.L....::..:? ='- -- ..r..J.cds.?r..-
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R E 13 0 L 9 T I O N
Sti7Ci{EAS,. it is apparent that the present war will be followed by a period
of economic readjustment, together with ponaible'unomployment due to release of
men from the armed services; and
Y.IMEAS, a large pert of the machinery and equipment now owned and used
by the City of Clearwater is deteriorating from year but cannot be replaced for
the duration of the war; and
MMEAS, it is the policy of the City Commiasion of the City of Clear-
water to build up a reserve fund to be used in meeting these and other problems
that will arise during the poet-war period;
NOW, MEREFORE, BE IT RESOLVED B'( THE CITY COMSSION OF TIE CITY OF
CLEARtiYATER, FLORIDA:
1, That a fuhd to be known as The Reserve Fund for Post War Activities
be and the same is hereby established.
2. That the City Wanager is hereby directed to transfer 015,000 to the
erodit of said Yund i=ediately, said money to be transferred from surplus profits
of the Gas and'tlater Department,
3. That the City Unnager shall raeo5eld additional transfers to the
Fund frets time to time as monies avAgable, rin order that the Fund may be
built up as rapidly as the City'VfitIn"cial condition will permit.
4. That the lun?•,ApP11.1'b4poslted in some bank or brnks in Clearwater,
and shall be kept?eraly separate end distinct from all other funds belonging 11 to the Cii- Surplus money in the Fund may be invested in United States bonds,
rr
or in bonds of the City of Clearwater; but all ouch bonds shall be kept entirely
separate from all other securities owned by the City and shall be distinctly ear-
marked as belonging to The Reserve Fund for Post t':er Activities.
3. No money shall be withdrawn from the Fund except by direction of the
City Comaibsion.
,passed and adopted by the City Comssisaion of the City
This Resolution'
o r earwater, this 28th day of June, A. D. 1943.
1 , r`Il '.i S
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