HomeMy WebLinkAboutD-1040 Self Insurance ORDINANCE D-
AN ORDINi~NCE OF THE COI~ON COUNCIL OF
THE CITY OF CARHEL, INDII~NA
ESTABLISHING EMPLOYEE MEDICAL SELF-INSURKNCE
IN THE CITY OF C~,EL, INDIAN~
WHEREAS, Indiana Code 5-10-8-2.2 provides that the City legislative
body may establish a program of self-insurance and funds necessary
to operate a self insurance program; and
WHEREAS, the Mayor of the City of Carmel, Indiana has recommended
the establishment of a self-insurance program for the payment of
certain comprehensive medical benefits of qualified City employees,
and qualified Carmel Clay Parks Board employees; and
WHEREAS, it is envisioned that the aforesaid comprehensive medical
benefit self-insurance plan shall result in an economic benefit to
the City by virtue of the savings realized by way of directly
paying for the said comprehensive medical benefit costs of
employees in lieu of paying premiums for conventional insurance;
and by virtue of the anticipated investment revenues upon such
self-insurance created hereunder by this ordinance; and
WHEREAS, it is the belief of the Common Council that such aforesaid
described comprehensive medical self-insurance plan will result in
an economic benefit to the City;
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of
Carmel, Indiana
SECTION I: There be established a self-insurance program for the
City of Carmel, Indiana for the purpose of establishing
comprehensive medical insurance for qualified employees of the City
of Carmel and qualified employees of the Carmel Clay Parks Board.
PASSED AND ADOPTED BY THE COMMON C~~~E CITY OF CARMEL,
INDIANA, THIS ~ DAY OF , 199~.
ATTEST:
T E~nson Presiding Officer
· · . ,~
PRESENTED by me to the Mayo of the City of ~~. Indiana this
Carme ,
~ -- _ day of ~ ~/7~ Y/t~/~ , 19
· . on, Mayor
ATTEST: