HomeMy WebLinkAboutResolution 1987 (23) A
RESOLUTION AUTHORIZING THE COUNTY OF ST. CROIX, WISCONSIN TO
BECOME A MEMBER OF THE WISCONSIN MUNICIPAL MUTUAL INSURANCE
COMPANY.
Resolution # c(. 57J
WHEREAS, there has been established an intergovernmental
cooperation commission (hereinafter, the "Company "), the function
of which is to provide risk management and liability insurance
services to its members as economically as possible; and
WHEREAS, the County of St. Croix, Wisconsin desires to gain
the benefits offered by the Company; and
WHEREAS, the Finance, Budget, Building and Bond Committee
has reviewed the Intergovernmental Charter - Contract dated as of
July 1, 1987 (hereinafter, the "Charter Contract "), which forms
the Company and has examined the Company's insurance program (as
defined in the Charter - Contract, hereinafter the "Program "); and
WHEREAS, the Finance, Budget, Building and Bond Committee
has found and determined that the Recitals in the Charter -
Contract are true and that it is in the best interests of St.
Croix County to become a member of the Company; and
WHEREAS, this governing body acknowledges that participation
in the Program will require a contribution to the capitalization
of the Company in the form of a general obligation promissory
note; and
WHEREAS, the amount of such note will depend upon the number
and identity of the other participants in the Program, but will
be such percentage of the total principal amount of Bonds issued
by the Company as corresponds to the percentage of the Program's
total expected losses represented by St. Croix County's expected
losses, as determined by insurance professionals retained by the
Company.
NOW THEREFORE, BE IT RESOLVED by the St. Croix County Board
of Supervisors, meeting in regular session that St. Croix County
hereby agrees to become a member of the Company and to
participate in the Program. To that end, all of the provisions
of the Charter - Contract are hereby ratified, adopted, and
approved.
BE IT FURTHER RESOLVED that to evidence its adherence to the
Charter - Contract, the St. Croix County Board Chairman and County
Clerk are hereby authorized and directed to execute the Charter -
Contract in the manner provided therein.
Dated this 8 day of ,4/, Le',S C , 1987.
FIN CE, BUDGET, BUILDING AND BOND
COMMITTEE
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