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s e <br />:i4a w1': i,•, r <br />CITY of SOUTH BEND <br />-� <br />PETER J. NEMETH, Mayor <br />54VIA <br />a <br />y <br />CDUNTV-GI7NG souY 9l+ILO <br />i`•• .��t„:. f 1 TH BENp, IN PIANA 46667 <br />' pewr H. Wren <br />2141384.9747 <br />• , Dnf c4ior, Adwdem4wion and <br />Flrianw <br />September 1.9,•1979 <br />Members of the Council' <br />South Bend Common Council <br />4th Floor Couinty-City Bldg, <br />D1 ar Council Members,' <br />There will be presented at first reading of the September 24, 1979 <br />Council meeting' an ordinance which will. enable the City to <br />snake major c-hangas in administexiug it's property and liability <br />insurance- program, <br />During the last 10 years,'we•have seen'the cnst, of the City's <br />insurance package increase from about $86,000.00 to W8,000,00 <br />in 1979, In .lieu of this i:fnancially escalating situation, we <br />feel it:.is Lime to evaluate.our positions and look at alternative <br />methods of' financing the .potential:risk <br />s created through the <br />day to day operation of the City, 'It is felt that the best weir <br />for the City to handle this situation is using combined programs <br />of self insurance and outside Gdverage depending on the. specific <br />• risk. <br />During the-1979 legislative session of the Indiana General <br />Assembly a law was ina6ced which now allows cities to set up a <br />cumulative fund' to be used for the pux'posa o� defraying those <br />expenses normally associated with providing insurance coverage <br />ax retaining risk, The ordinance'accompanying tbis letter <br />•waould authorize 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 theicity is in a positign'•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 />