[HISTORY: Adopted by the Mayor and Council of the City of College Park 5-9-1989 by Res. No. 89-R-8; amended in its entirety 1-29-2019 by Ord. No. 19-O-02. Subsequent amendments noted where applicable.]
Pursuant to § 19-602 et seq. of the Insurance Article, Annotated Code of Maryland, as amended, the City is authorized to pool together with other political subdivisions and municipal corporations of the state for the purpose of purchasing casualty, health or property insurance or self-insuring casualty, health or property risks, and to approve by resolution any measures required to do so, including without limitation entering into trusts and capitalization agreements, and executing and delivering all necessary and appropriate enabling documents, instruments, certificates and opinions.
The City is authorized to continue to participate in the Local Government Insurance Trust for the purpose of purchasing casualty, health or property insurance or self-insuring casualty, health or property risks, through its trust agreement, as amended, which is hereby confirmed and ratified, and other required agreements, and to fund said participation.