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<br />.. <br /> <br />- , <br />, <br /> <br />() <br /> <br />,,' <br />(I. <br /> <br />CITY OF GREELEY, COLORADO <br /> <br />RESOLUTION NO. <br /> <br />36 , 1987 <br /> <br />A RESOLUTION AUTHORIZING THE MAYOR AND THE CITY CLERK TO SIGN A <br />LETTER OF CREDIT IN THE AMOUNT OF $1 MILLION AS PART OF THE SELF- <br />INSpRANCE PROGRAM OF THE CITY OF GREELEY PURSUANT TO CHAPTER 4.18 <br />OF THE GREELEY MUNICIPAL CODE. <br /> <br />WHEREAS, the City of Greeley has adopted a self-insurance <br /> <br />program; a,nd <br /> <br />WHEREAS, the self-insurance program of the City of Greeley <br /> <br />contemplates a letter of credit in the amount of $1 million to <br /> <br />pay claims and defense costs in excess of the City'.sreserV{! <br /> <br />funds; and <br /> <br />( <br />WHEREAS, jthe Intrawest Bank of Greeley has agreed to provide <br />the letter of credit to the City of Greeley contemplated by ,the <br /> <br />City's self-insurance program; and <br /> <br />WHEREAS, the City Council of the City of Greeley determines <br /> <br />that it is in the best interest of the citizens of the City of <br /> <br />Greeley that the letter of credit by obtained for self-insurance <br /> <br />purposes; <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF <br /> <br />GREELEY, COLORADO, that the Mayor and the City Clerk are autho- <br /> <br />rized to execute a letter of credit with Intrawest Bank in the <br /> <br />~ , <br />'b)LHl ~r'l C <br />