AN ORDINANCE authorizing the purchase of excess liability insurance; increasing an expenditure allowance in the 1996 budget of the Department of Finance General; and making a partially reimbursable appropriation from the Emergency Subfund, all upon a three-fourths vote of the City Council.

BE IT ORDAINED BY THE CITY OF SEATTLE AS FOLLOWS:

Section 1. The Finance Department is authorized to purchase excess umbrella liability insurance for the period from October 1, 1996 through December 31, 1997. Such insurance should provide for TwentyFive Million Dollars ($25,000,000) of coverage with a Five Million Dollar ($5,000,000) self-insured retention.

Section 2. In order to pay the full premium associated with this insurance, the expenditure allowance for "Insurance" (SFMS Code Q51470) in the 1996 Budget for the Department of Finance General is increased by the sum of Five Hundred Twenty Thousand Dollars ($520,000).

Section 3. The sum of Five Hundred Twenty Thousand Dollars ($520,000) is hereby appropriated from the Supplemental Appropriation Account of the Emergency Subfund for the foregoing purpose. The Emergency Subfund shall be partially reimbursed by other City funds to reflect the relative benefits of the insurance coverage to those other funds. The Director of Finance shall determine the amounts each other fund shall contribute, within their respective expenditure authorities, based on the benefits received by the other funds.

Section 4. Any act consistent with the authority and prior to the effective date of this ordinance is hereby ratified and confirmed.

Section 5. The foregoing appropriation is made to meet actual necessary expenditures of the City for which no appropriation has been made due to causes that could not reasonably have been foreseen at the time of making the 1996 Budget, in accordance with RCW 35.32A.060.

Section 6. This ordinance shall take effect and be in force thirty (30) days from and after its passage and approval, if approved by the Mayor, but if not approved and returned by the Mayor within ten (10) days after presentation, it shall take effect as provided by Municipal Code Section 1.04.020.

Passed by three-fourths vote of all the members of the City Council the _____ day of _______________, 1996, and signed by me in open session in authentication of its passage this _____ day of _______________, 1996.

______________________________ President _______ of the City Council Approved by me this _____ day of _______________, 1996. ______________________________ Mayor Filed by me this _____ day of _______________, 1996. ______________________________ City Clerk (Seal)

DDD 9/9/96 excess.doc(Version 1)