The Village Board of Trustees does hereby authorize and approve
membership in the Illinois Municipal League Risk Management Association
and directs the Mayor and Clerk to execute an intergovernmental cooperation
contract with the Illinois Municipal League Risk Management Association
for membership for a period of one year beginning the date the Association
commences providing risk coverage to its members and each year thereafter
unless this article is repealed.
Each member hereby agrees to contribute to the Association a
sum of money to be determined by the Association at the time of application
based on the needs of the Association and the loss experience of the
member, which sum shall constitute the cost of the member's first-year
contribution for membership in the Association. Membership contributions
for second and subsequent years shall be calculated in accordance
with the loss experience of the Village and the needs of the Association,
including total losses and expenditures of the Self-Insured Retention
Fund of the Association.
