00-0300R

RESOLUTION AUTHORIZING EXECUTION OF AN AGREEMENT WITH THE SPIRIT MOUNTAIN RECREATION AREA AUTHORITY REGARDING PARTICIPATION BY THE AUTHORITY IN THE CITY'S SELF INSURANCE FUND DURING 2000.

BY COUNCILOR NESS:

RESOLVED, that the proper city officials are hereby authorized to execute an agreement with the Spirit Mountain recreation area authority which allows the authority to participate during 2000 in the city's self insurance fund for purposes of general liability, workers' compensation and employee honesty bond coverage, which agreement shall be substantially in the form of Public Document No. ____________________, on file in the office of the city clerk.



STATEMENT OF PURPOSE: This resolution approves an agreement with Spirit Mountain which sets forth the terms and conditions of its participation in the city's self insurance fund for general liability and workers' compensation coverage during 2000.  With respect to liability coverage (which does not include liquor liability), Spirit Mountain retains the responsibility for the first $50,000 of loss in any occurrence.  Under the agreement Spirit Mountain will be charged $20,000 for liability coverage and $55,007 for workers' compensation coverage, plus an administration fee of $2,500.

The agreement also allows the authority to participate in coverage purchased by the city under an honesty bond at the premium cost set by the insurer which is $366.