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FUNDS
Sections:
3.24.010 Investment authority.
3.24.020 Self-insurance funds established.
3.24.030 Self-insurance funds-Funding.
3.24.040 Self-insurance funds-Expenditure.
3.24.050 Self-insurance fund-Compromise, settlement authority.
3.24.051 Self-insurance reserve fund- Property and Casualty
and Worker's Compensation fund collect authority.
3.24.052 Self-insurance reserve fund-Medical and Dental Fund
collect authority.
3.24.053 Self-insurance reserve fund-Payment of Medical and
Dental Claims.
3.24.054 Self-insurance reserve fund-Payment of claims.
3.24.055 Self-insurance reserve funds-Claims payment accounts.
3.24.056 Self-insurance reserve funds-Personnel.
3.24.057 Self-insurance reserve fund-Safety program.
3.24.060 Water acquisition fund-Established.
3.24.070 Water acquisition fund-Expenditure.
3.24.080 Water acquisition fund-City Manager's responsibility.
3.24.010 Investment authority.
A. The City Treasurer is authorized to invest municipal funds coming into his
possession in bonds and other obligations of the following federal agencies:
Federal National Mortgage Association
Federal Home Loan Banks
Federal Land Banks
Farm Credit Administration
Banks for Cooperatives
Intermediate Credit Banks
B. In investing municipal funds in such agencies, the City Treasurer shall comply
in all respects with the applicable statutes of the State of Colorado. (Res.
76-174 §§ 1, 2, 1976).
3.24.020 Self-insurance funds established.
The city shall maintain three funds as part of the overall self-insurance program.
These funds are entitled the "Medical and Dental Self-Insurance Fund",
the "Property Casualty Self-Insurance Fund", and the "Workers'
Compensation Self-Insurance Fund." The purpose of these funds shall include,
but not be limited to, payment of claims, administrative expenses, legal expenses
and payment for prevention efforts. (Ord. O-2006-22 § 1, 2006; Ord. O-92-12
§ 1, 1992).
3.24.030 Self-insurance funds-Funding.
Upon direction of the City Manager, through the budgeting process, the Finance
Director is authorized to collect from the General Fund the budget amounts to
the Property and Casualty and Workers' Compensation Self-Insurance Funds and
to collect from any Fund, where associated wages are paid, the budget amounts
to the Medical and Dental Self-Insurance Fund. (Ord. O-2006-22 § 2, 2006;
Ord. O-92-12 § 2, 1992).
3.24.040 Self-insurance funds-Expenditure.
The Finance Director, is authorized to make such payments from the self-insurance
funds as may be necessary to pay premiums, claims, judgments, settlements, legal
fees and any other self-insurance related program expenses, at the direction
of the City Manager. (Ord. O-92-12 § 3, 1992).
3.24.050 Self-insurance fund-Compromise, settlement authority.
The City Manager, in consultation with appropriate staff, is authorized to approve
compromises and settlements not to exceed the property and casualty program
self-insured retention. The City Manager has the authority to delegate portions
of this settlement authority to the Director of Employee Relations or to the
Director of Employee Relations' designee, as appropriate. (Ord. O-2006-22 §
3, 2006; Ord. O-92-12 § 4, 1992).
3.24.051 Self-Insurance reserve fund-Property and casualty
and workers' compensation fund collect authority.
The City Manager is authorized to collect funds from the General Fund to the
Self-Insurance Reserve Fund for Property and Casualty and Workers' Compensation,
as per the approved budget. (Ord. O-2006-22 § 4, 2006; Ord. O-92-12 §
5, 1992).
3.24.052 Self-Insurance reserve fund-Fund-Medical and
dental fund collect authority.
The City Manager is authorized to collect funds from any Fund, where associated
wages are paid, to the Self-Insurance Reserve Fund for Medical and Dental, as
per the approved budget. (Ord. O-2006-22 § 5, 2006; Ord. O-86-91 §
2, 1986).
3.24.053 Self-Insurance reserve fund-Payment of medical
and dental claims.
Claims shall be paid out of the City's Self-Insurance Fund to claimants by the
third-party claims administrator from a claims payment account established for
that purpose. The third-party claims administrator shall have the authority
to pay any claims up to and including two thousand five hundred dollars. Claims
between two thousand five hundred one dollars and ten thousand dollars shall
be paid by the third-party claims administrator after receiving approval from
the Director of the Department of Employee Relations. Claims above ten thousand
one dollars shall be paid by the third-party claims administrator after receiving
approval of the City Manager. (Ord. O-2006-22 § 6, 2006).
3.24.054 Self-insurance reserve fund-Payment of claims.
Claims shall be paid out of the city's Self-Insurance Reserve Fund as provided
for under the Colorado Workmen's Compensation Act, C.R.S. 8-40-101, et seq.,
without need of authorization of City Council. Claims shall be paid to claimants
by the third-party claims administrator from a claims payment account established
for that purpose. The third-party claims administrator shall have the authority
to pay any claim up to and including two thousand five hundred dollars. Claims
between two thousand five hundred one dollars and ten thousand dollars shall
be paid by the third-party claims administrator after receiving approval from
the Director of the Department of Employee Relations. Claims above ten thousand
one dollars shall be paid by the third-party claims administrator after approval
of the City Manager. (Ord. O-93-26 § 26, 1993; Ord. O-86-91 § 5, 1986).
3.24.055 Self-insurance reserve funds-Claims payment accounts.
The City Manager is authorized to establish claims payment accounts with designated
third-party administrators as required for the timely payment of claims against
the city. (Ord. O-92-12 § 6, 1992).
3.24.056 Self-insurance reserve funds-Personnel.
The City Manager is authorized to employ necessary personnel to administer the
city's self-insurance program and the reserve funds that are part of that program.
(Ord. O-92-12 § 7, 1992).
3.24.057 Self-insurance reserve fund-Safety program.
The City Manager is authorized to establish a safety program to aid in decreasing
the number of job-related injuries and hazards to the employees of the city
of Lakewood. (Ord. O-86-91 § 8, 1986).
3.24.060 Water acquisition fund-Established.
There is established a water acquisition fund, for the purpose of acquiring,
whether by lease, purchase or otherwise, water and water rights for municipal
purposes and for the payment of incidental and necessary expenses in and in
connection with such acquisitions, including but not limited to brokers' commissions,
attorneys' and engineers' fees, and other costs and expenses. (Ord. O-82-84
§ 1, 1982; Ord. O-76-63 § 1, 1976).
3.24.070 Water acquisition fund-Expenditure.
The City Manager is authorized to expend such sums from the water acquisition
fund as may be necessary or proper, in his judgment, to acquire water and water
rights, whether by lease, purchase or otherwise, from time to time, and for
the payment of necessary and incidental expenses in or in connection therewith,
including but not limited to engineering fees and costs, attorneys' fees, brokerage
fees and commissions, and such other costs and expenses of acquisition as may
seem to him necessary or proper in connection therewith. The Treasurer and Director
of Finance are authorized to make payments, from time to time, from the fund
for such purpose at the direction of the City Manager. (Ord. O-76-63 §
3, 1976).
3.24.080 Water acquisition fund-City Manager's responsibility.
The City Council finds and declares that in the acquisition of water and water
rights it is not always possible, desirable or feasible to take all title curative
and other steps which might be necessary to assure the complete perfection of
title, nor is it always possible to be certain of the amount of water available
for application to a changed use or at a different place, without jeopardizing
the ability to acquire the same. The City Manager is therefore authorized to
use his best judgment to determine the extent to which the perfection of title,
or completeness of title examination, or assurance of title, or assurance of
convertibility of acquired water rights in terms of consumptive use factor and
applicability to a changed use or in a changed location may be assured, and
to acquire water and water rights upon such basis as a reasonably prudent man
acquiring rights for himself would act. In so doing, the City Manager is relieved
from any liability for title failure, mistake in judgment, or responsibility
for any erroneous assessment of the convertibility of the acquired right or
rights to the uses of the city, when he has acted in good faith upon the best
advice available to him at the time, and in the exercise of his best judgment.
(Ord. O-76-63 § 4, 1976).
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