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„, <br />i <br />�����oluilDNe/y <br />CITY SpUTBEND �� 2 <br />PETERR J. NEM ETN, Mayor <br />COUNTY -CITY BUILDING SOUTH BEND, INDIANA 45601 <br />iNDIaNP <br />P.,¢, H. Mullen <br />. Direm cl, Ad.WIH.Iinn and Yt9@84 916] <br />Finance <br />September 19,.1979 <br />Members of the Council <br />South Send Common Council <br />4th Floor County -City Bldg. <br />Dear Council Members:' <br />. There will be presented at first reading of the September 24, 1979 <br />.Council meetinganordinance which will enable the City to <br />make major changes in administering it's property and liability <br />insurance program, . <br />During the last 10 years, we have seen the cost of the City's <br />. insurance package increase from about $86,000.00 to $868,000,00 <br />in 1979. In.lieu of this. financially escalating situation, we <br />feel it.is time to evaluate.our position and look at alternative <br />methods of financing the . potential -risks created through the <br />day to day operation of the City. It is felt that the best wey <br />for the City to handle this situation is using combined programs <br />of self insurance and outside coverage depending on the specific <br />risk. <br />During the-1979 legislative session of the Indiana General <br />Assembly a law was inacted which now allows cities to set up a <br />cumulative fund to be used for the purpose of defraying those <br />expenses normally associated with providing insurance coverage <br />or retaining risk. The ordinance accompanying this letter <br />.would authorise said fund, but more importantly, would support <br />in full the city's action in becoming self reliant in the area <br />of insurance, <br />.It is felt that the city is in apposition. both financially and <br />Professionally to evaluate it's operations and decide which <br />.should be insured through outside sources and which should fall <br />into the category of retained risks. - <br />0 <br />