[HISTORY: Adopted by the Township Committee
of the Township of Franklin 3-9-2021 by Ord. No. O-3-21. Amendments noted where
applicable.]
A.
There is hereby established an Insurance Fund with the Township of
Franklin (Township) in accordance with the provisions of N.J.S.A.
40A:10-6 et seq., for the following purposes:
(1)
To insure against any loss or damage however caused to any property,
motor vehicle, equipment or apparatus owned by the Township or owned
by or under the control of any of the Township's departments,
boards, agencies or commissions.
(2)
To insure against liability from the use or operation of motor vehicles,
equipment or apparatus owned by or controlled by the Township or owned
by or under the control of any of the Township's departments,
boards, agencies or commissions.
(3)
To insure against liability for any negligence caused or attributed
to the Township and that of any of the Township's officers, employees
and servants, whether or not compensated or part-time, who are authorized
to perform any act or services, but not including an independent contractor
within the limitations of the New Jersey Tort Claims Act (N.J.S.A.
59:1-1 et seq.).
B.
The Mayor and Committee of the Township may appropriate the moneys
necessary to effectuate the purposes of this chapter.
The Township Committee may designate the maximum or minimum
amount of the Insurance Fund and, from time to time, provide for the
disposition of any excess over and above the maximum fixed or of the
interest or profits arising therefrom when the fund shall have reached
the maximum limit.
