[Adopted as Sec. 4-1-17 of the Code of 1972;
amended in its entirety 6-16-1997 (Ch. 9 of the 1990 Code)]
A reserve fund for the purpose of an administrative
services only program with Blue Cross and Blue Shield of Connecticut
shall be established, and revenue to this fund shall include the contributions
recommended by Blue Cross and Blue Shield, together with interest
from investments made from the reserve fund. The Town and the Board
of Education shall make the contributions as recommended by Blue Cross
and Blue Shield of Connecticut into this reserve fund.
Expenditures from this reserve fund will include
charges from Blue Cross and Blue Shield to pay hospital and medical
claims and for claims administration fees for Town and school employees.
Transfers from this reserve fund will require seven affirmative votes
by the Town Council.
