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s �2iGF J RESOLUTION NO. 86-176 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TRACY APPROVING PARTICIPATION IN THE WORKERS' COMPENSATION PLAN OF THE CENTRAL SAN JOAQUIN VALLEY RISK MANAGEMENT AUTHORITY WHEREAS, the CITY OF TRACY intends to become a participant in the Central San Joaquin Valley Risk Management Authority hereinafter the "Authority; " and WHEREAS, the Authority has established a Worker' s Compensation Plan via which participants may obtain Workers' Compensation insurance coverage; and WHEREAS, the Authority has made available for selection by the participants Self-Insured Retention (SIR) limits in the amounts of $ 10, 000 , $25,000 and $50, 000; and WHEREAS, the Authority has advised the City that its initial annual Deposit for the Worker's Compensation Plan shall be no greater than the sum of $ 101 ,222 ; and WHEREAS, it is expressly understood and agreed that a commitment by a participant In the Authority to the Workers' Compensation Plan must be for a period of no less than three years; and WHEREAS, it appears to be in the best interest of the City that it participate in said Workers' Compensation Plan. NOW, THEREFORE, the City Council of the CITY OF TRACY does hereby resolve, determine and demand as follows: 1 . The City hereby ,joins the Workers' Compensation Plan of the Authority for a period of not less than three years. 2 . The City hereby selects as its Self-Insured Retention the sum of $ 50,000 3 . The initial annual Deposit to be paid by the City, in a sum not to exceed $ 101 ,222, is hereby approved, and the appropriate officers of the City are authorized and directed to cause said Initial Deposit to be paid to the Authority at such time as the Authority may direct. 4 . The Mayor of the City, or his designate is hereby authorized and directed to execute such documents as may be required to bind the City to terms and covenants of the Authority' s Workers' Compensation Plan. Page 1 of 2 Pages.