[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.]
A.
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.
B.
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.
