BY COUNCILOR REINERT:
RESOLVED, that the proper city officials are hereby authorized to execute an agreement with the Duluth airport authority which allows the authority to participate during 2004 in the city’s self insurance fund in the amount of $52,462 for purposes of 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. Payments received will be deposited in Self Insurance Fund 0605-036-1659 and 0160-036-1659.
STATEMENT OF PURPOSE: This resolution approves an agreement with the Duluth airport authority which sets forth the terms and conditions of its participation in the city’s self insurance fund for workers’ compensation and honesty bond coverage during 2004. Under the agreement, authority will contribute $51,378 to the pool for workers’ compensation coverage, plus an administration fee of $1000.
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 $84.