§ 1-217. Control of the fund.

(a)

The creation and establishment of the self-insurance fund is not intended to serve as a trust or trust device whereby Broward County funds are to be sequestered and otherwise restricted for use in accordance with a declaration of trust or other instrument.

(b)

The board of county commissioners of Broward County, Florida, hereby authorizes and delegates the administration of the self-insurance fund, under normal, budgetary controls, to the county administrator, or his designee, in order to provide the county administrator, or his designee, with the source of funding for the payment, settlement or compromise of tort, workmen's compensation and other claims brought against Broward County as otherwise provided by Broward County ordinance.

(c)

Nothing contained herein shall preclude the county administrator, or his designee, from utilizing the self-insurance fund for the purposes set forth in this division.

(d)

The county administrator, or his designee, shall follow the established policy of the board of county commissioners regarding the investments and may invest all of the self-insurance funds to the fullest extent consistent with the cash requirements and investment objectives of the self-insurance fund.

(Ord. No. 77-71, § 5, 11-16-77)