§ 2-217. Trustees.

(a)

The city council shall appoint five (5) joint trustees to administer the workers' compensation trust fund to the workers' compensation trust fund board of trustees. No more than one (1) trustee shall simultaneously be a member of the city council and no more than one (1) trustee shall be a city employee. The city risk manager shall be technical advisor to the workers' compensation trust fund board of trustees. The trustees shall be responsible for recommendations to the city council regarding the administration of the workers' compensation trust fund. The trustees shall meet at least twice a year and submit a report to the city council as to the status of the trust fund. Such report shall include recommendations the trustees deem necessary to meet their joint fiduciary obligations for administering the workers' compensation trust fund. The trustees shall be bonded in an amount satisfactory to the city risk manager but not less than the minimum amount of ten thousand dollars ($10,000.00). Costs for bonding will be paid by the workers' compensation trust fund. The trustees shall be appointed for terms of three (3) years and a chairman shall be designated by the mayor with the approval of the city council.

(b)

The term of any trustee automatically ends:

(1)

On death of the trustee;

(2)

On submittal of a written resignation to the workers' compensation trust fund board of trustee chair or the mayor;

(3)

On failure to attend three (3) consecutive regular meetings of the workers' compensation trust fund board of trustees; or

(4)

On termination of city employment.

(c)

Three (3) trustees shall constitute a quorum for the exercise of the powers and duties conferred upon the workers' compensation trust fund board of trustees.

(d)

Conflict of interest laws shall apply to each of the worker's compensation trust fund board of trustees.

(e)

Trustees shall serve on the workers' compensation trust fund board of trustees without salary or compensation.

(f)

The trustees shall:

(1)

Administer the worker's compensation trust fund pursuant to this chapter;

(2)

Provide financial oversight of the workers' compensation trust fund by evaluating liabilities, other expenses and reserve amounts;

(3)

Review the trust fund to ensure adequate funds exist to pay outstanding and future workers' compensation losses and risk management expenses; and

(4)

Meet at least twice per year, or more frequently as the chair of the workers' compensation trust fund board of trustees deems necessary or upon request of the city risk manager.

(g)

The trustees may:

(1)

Adopt rules or policies for the operation of the workers' compensation trust fund board of trustees, which are not inconsistent with this chapter, federal laws, Arizona laws, the city charter or any city code or administrative regulations;

(2)

Appoint committees;

(3)

Recommend city staff hire independent consultants to perform assignments necessary for the administration of the trust fund.

(Ord. No. 2892, § 2, 5-27-14)