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HomeMy WebLinkAboutRes 22-76 07/20/1976 ....-' '< ~ .... RESOLUTION NO. 22-76 A RESOLUTION OF GOOD INTENT TO PARTICIPATE IN THE JOINT MUNICIPAL RISK MANAGEMENT STUDY PROPOSED BY THE DUP AGE MAYORS AND MANAGERS CONFERENCE AND THE NORTHWEST MUNICIPAL CONFERENCE WHEREAS. the Village of Mount Prospect has experienced considerable duress due to insurance rate increases and market instability; and WHEREAS. such inadequacies have been detrimental to sound municipal insurance and fiscal management; and WHEREAS. market confusion with respect to municipal insurance seems likely for the foreseeable future; and WHEREAS. the proposed joint municipal risk management study of the DuPage Mayors and Managers Conference and the Northwest Municipal Conference offers potential for alleviating some of the problems municipalities face in the insurance market; and WHEREAS. the Village of Mount Prospect views the proposed study as a reasonable and worthwhile endeavor for individual and group benefit with respect to municipal I insurance; NOW. THEREFORE. BE IT RESOLVED BY THE MAYOR AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT. COOK COUNTY. ILLINOIS: SECTION ONE: That the Village of Mount Prospect expresses its good intent to becom an active participant in the study contingent upon final Board review of the Policy Co - mittee proposal. SECTION TWO: That the Village of Mount Prospect agrees to the basic tenents of participation in Phase I as described below: 1. One (1) study to be conducted for all participating municipalities; 2. Funding for the study to, be based partly on a flat fee (75% of total study cost) and partly on other considerations - municipal budget. population. etc. (25% of total study cost); the latter as determined by the Policy Committee; and 3. Each municipality to be allowed one (1) vote at all discretionary levels of action with respect to the study. SECTION THREE: That the Village of Mount Prospect stuff be authorized to partici- pate in formulation of the final proposal for study to be submitted to the Board. SECTION FOUR: That this Resolution shall be in full force and effect from and after its passage. approval. and publication as prescribed by law. AYES: 6 NAYS: 0 PASSED this 20th day of July. 1976. APPROVED this 20th day of July. 1976. ~----~ U . ?""""~ .~."...."'::;~ ..r'^' ,. .... "",<.<' .-- Mayor A~ (/~.. Village Cler