HomeMy WebLinkAbout33618 / 85-14C: TOBER 3, 1985
WHEREAS:
# 14 RESOLUTIOfI
RESOLUTION OF TNE COMMON COUNCIL
OF THE CITY OF OSHKOSH
APPROVING PARTICIPATION IN
WISCONSIN MUNICIPAL TRANSIT INSURANCE C011P1ISSION"S
MUNIGIPAL MUTUAL INSURANCE COMPANY
1. The City has purchased transit vehicle insurance as a member of the
Wisconsin hlunicipal Transit Insurance Commission (hereafter, the
Commission).
2. The City has enjoyed favorable costs and broad coverage under the
Commission's program.
3. Re�ent devziopmenta in ilie insurance industry suggesi that future
premiums will increase significantly and coverage will be more
difficult to obtain.
4. It appears that, if Commission members join together to self-insure
transit vehicle accidental loss exposures, significant savings may
result.
5. The Wisconsin Department of 7ransportation has funded a study to
design and implement a self-insurance pro9ram for Commission members.
6. The study has determined that joint self-insurance is possible by forming
a Municipal Mutual under Section 611.11(4), Wis. Stats.
7. The Commission has voted to proceed with applying to the Wisconsin
Insurance Department for approval to form a Municipal Mutual, to be
governed 6y a Board of Directors composed of one director appointed
by each participating municipality.
8. The Commission intends to implement a joint self-insurance program for
transit vehicles under Section 6.11.11(4), Wis. Stats. if it determines
costs are less than those offered by conventional insurers.
NOW, THEFEFDRE, BE I7 RESOLVED THAT:
1
2
The proper city officials are authorized to sign all documents needed
to form the Municipal Mutual.
The City's appointed Commissioner to the Commission shall be the
City's Director appointed to the Municipal Mutual's Board.
SUBC1IiTGD BY
APPROVFD
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