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1 �t <br />C. The claims reserve fund shall maintain <br />sufficient funds for incurred but unpaid liability <br />claims for injuries which lie in or could lie in tort <br />regardless of whether that may be the type of action <br />chosen by the claimant, and for claims arising out of <br />Federal law. The claims reserve fund shall also <br />maintain funds to cover all actual or anticipated <br />claims and expenses for any given or future year. The <br />risk manager, after consultation with the director of <br />finance and the city attorney, shall recommend the <br />amount of money that is required to maintain adequate <br />reserves, both for current and future claims. <br />b. Expenditures out of the claims reserve fund <br />shall be made only for the following purposes: <br />1. to pay liability claims and expenses <br />related thereto brought against the City, its employees <br />or officials pursuant to the Colorado Governmental <br />Immunity Act, and claims agai the City and its <br />officials or employees arig,; � � er Federal law, which <br />the City is legally obli ed.to,pay,�nd which are <br />compromised or settled uaet to,rthfs.',Chapter 4.18, <br />or in which a final moniy kfudgmeri " against the City has <br />been entered, and which -Wre� "'ti t' ;�twise covered by a <br />commercial liability insur-Anre— zipolicy; <br />2. to pay r- Wk,caQst of defense, including <br />expert witness fees anco 'fide counsel legal fees, and <br />investigation and other related defense costs in <br />connection with claims brought pursuant to the require- <br />ments of subsection D1 above. <br />3. to pay premiums and deductible amounts <br />pursuant to any commercial liability insurance policy <br />purchased by the City in lieu of or in addition to the <br />reserve fund provided in this Chapter. <br />E. Monies in the claims reserve fund shall not <br />be used to pay any of the following: <br />1. claims for liabilities or losses which <br />are eligible for payment under any existing commercial <br />insurance policy; <br />2. all claims other than those which arise <br />under Federal law or which lie or could lie in tort <br />regardless of whether that may be the type of action <br />chosen by the claimant; <br />3. Any other claim or expense not set forth <br />in subsection D of this section. <br />--3- <br />/a9 <br />