[HISTORY: Adopted by the City Council of the City of Oil City as indicated in article histories. Amendments noted where applicable.]
[Adopted 4-20-1987 by Ord. No. 2461 (Ch. 15 of the 1986 Code)]
The conditions of the agreement, the manner and extent of financing the agreement, the duration of the term of the agreement and the organizational structure necessary to implement the agreement are as specified within the Articles of Agreement and Bylaws, which were presented before the City of Oil City at the public meeting of April 6, 1987, and which are set forth in Appendix A to this chapter and incorporated herein.[1]
[1]
Editor's Note: The Articles of Agreement and the Bylaws are on file in the office of the City Manager.
The appointed representative is hereby authorized and directed to take whatever steps are necessary, sign whatever documents are necessary and do all things necessary to become a member of the Oil Region Council of Governments.
There is hereby appropriated from the municipal treasury an amount sufficient to pay the 1987 annual dues as determined for this municipality under the terms of the above-mentioned agreement.
[Adopted 4-10-1989 by Ord. No. 2493 (Ch. 6 of the 1986 Code)]
The City of Oil City hereby acknowledges membership in the Penn Prime Trust by entering into the member participation agreement, hereinafter "participation agreement." In accordance with the Intergovernmental Cooperation Law, 53 P.S. § 481 et seq., this chapter sets forth the components of the Penn Prime Trust cooperative arrangement as follows:[1]
A. 
The conditions of the participation agreement. The participation agreement, agreement of trust, coverage provisions and bylaws of the Penn Prime Trust, as amended from time to time, are hereby attached and fully incorporated by reference herein as though they were part hereof.
B. 
Duration of the agreement. The duration of the participation agreement is a continuous period commencing on the effective date of this chapter and ending on termination/cancellation.
C. 
Purpose and objective of the agreement. The purpose of the participation agreement shall be to minimize the financial impact upon the City of Oil City resulting from an occurrence covered by the trust. This will be accomplished by means of:
(1) 
Loss prevention and safety programs to minimize or eliminate risks of such accidents;
(2) 
Risk pooling to share with other local agencies the financial impact of such losses; and
(3) 
The establishment of a mechanism through the trust to provide risk coverage for catastrophic losses through means deemed appropriate by the Board of Trustees of the Penn Prime Trust.
D. 
Manner and extent of financing the agreement. The expenses of participating in this cooperative program will be financed through contributions by the City of Oil City to the Penn Prime Trust and by investment of the trust governed by the Board of Trustees.
E. 
Organizational structure to implement the agreement. The participation agreement will be implemented by the use of the Penn Prime Trust. The trust is to be administered by the Board of Trustees, which may designate a day-to-day administrator, as established through the provisions of the agreement of trust and the bylaws.
F. 
Property acquisition. The Penn Prime Trust, as administered by the Board of Trustees, has the power, through the bylaws, to acquire, hold or dispose of real or personal property. Such measures by the trust will be carried out in accordance with the Penn Prime Trust and its bylaws.
G. 
Powers to contract for group insurance and employee benefits. The Penn Prime Agreement sets forth that the Board of Trustees has the power to enter into contracts, incur debts, liabilities and obligations in the ordinary course of business. These powers allow the Penn Prime Trust to enter into such contracts as allowed under 53 P.S. § 487(7) of the Intergovernmental Cooperation Law.[2]
[2]
Editor's Note: See now 53 Pa.C.S.A. § 2301 et seq.
[1]
Editor's Note: See now 53 Pa.C.S.A. § 2301 et seq.