HomeMy Public PortalAboutr 07:201
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No. 07-201 Date of Adnplion July 26, 2007
RESOLUTION
MUNICIPAL JOINT INSURANCE TRUST FUND
"'HEREAS, the Borough of Carteret has participated as a member of the
Middlesex County Municipal Joint Insurance Fund (hereinafter the "Fund")
existing pursuant to Chapter 372, Laws of 1983 (N.J.S.A. 40A:I0-36 et seq) and,
is. desirous of continuing said membership for a tenn expiring December 21, 2010;
and
WHEREAS, the governing body of the Borough of Carteret has detennined that
continued membership in the Fund is in the best interest of the Member; and
NOW, THEREFORE, BE IT RESOLVED by the Borough of Carteret, in the
County of1.1iddlesex, and the State of New Jersey as follows:
SECTION 1. The Borough of Carteret hereby agrees to continue as a
member of the Fund for a period of three (3) years commencing January 1, 2008
and tenninating on December 31,2010 for the purpose of securing the following
types of insurance coverage:
(a) Workers Compensation and Employer's Liability.
(b) General Liability Coverage.
(c) Motor Vehicle and Equipment Liability Coverage.
(d) Property Damage Coverage (Building, Contents, Auto Physical
Damage and Boiler and Machinery.)
After the expiration of the said three (3) year period of membership, participation
may be canceled or extended in accordance with the ByLaws of the Fund.
SECTION 2. For the purposes of contribution of sums into the Fund to be
designated for administrative costs and claims, the Borough of Carteret hereby
agrees to obtain the types of coverage from the Fund as are set forth in Section 1 of
this Resolution and the Indemnity and Trust Agreement to be signed by it.
SECTION 3. The ByLaws of the Middlesex County Municipal Joint
Insurance Fund, attached hereto, are hereby adopted and accepted.
SECTION 4. The Mayor and Council are hereby authorized and directed
to execute an Indemnity and Trust Agreement signifying continued membership.
Adopted tIris 26th day of July, 2007 and certified as a
true copy of the original on July zih, Z007.
KATHLEEN M. BARNEY, MMC
Municipal Clerk
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Adopted at a meeting ofthc Municipal Council ~JUlY 26, 2007
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RECORD OF COUNCIL VOTE