HomeMy WebLinkAboutResolution #6701 7-19-2010.PDFI'elephone
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IVARCHAM HA[L
836 HANSHAW RpAD
IT}-IACA. N.Y 14850
I, Norma R. Manning, Clerk of thq Village of Cayuga Heights, DO
HEREtsY CERTIF-Y that the httached Reqolution #6701is a true ancl exact copy
of the whole of such resolutiofr on file in tlris office passed at the meeting of the
Board of Trustees held on thel24th day of July,2010.
IN WITNESS WHEREOF, I have hereuhto set my hand and the official seal of
the village of cayuga Height$ of Tompkirls county, New york, this 24th day of
.Iuly, 2010
sr.ATE OF NEW YORK)
COUNTY OF TOMPKINS) SS:
Julv 24.2010
-SEAL-
Norma R. Manning
Village Clerk
Vitlage of Cayuga Heights Resolution #670I dated July 19, 2010
AIJTIIORIZAT]ON TO CONTRIBUTE TO THE RESERVES OF THE GREATER'IOMPI(INS COIJNTY
MIJN ICIPAI- HEALTH INSLJRANCE CON SORTIUM
WHIIREAS, the Village of Cayuga Heights shalljoin the Greater'l"ompkins County Municipal
Health Insurance Consortium for the purpose of providing emplpyee health insurance and prescription drLrg
coverage, and
WHEREAS, the Consottium, as recluired by the New Yprk State Insurance Departrnent, must
establish sufficierrt financial reserves to begin working as a congoftiurn, now, therefore be it
RESOLVED, that the Village of Cayuga Heights shall Contribute as Iisted as Estirnated Initial
Capitzrlization in the fbllowins table:
County
Cify of lthaca
Town of Ithaca
Town of Caroline
"lown of Dzurby
'lown of Dryden
'lown of Enfield
Town of Groton
T'own of LJlysses
Village of Cayuga Fleights
Village of Dryden
Village of Groton
Vil la.ge of Trumansburg
RESOLVED FURTHER, that the fisoal o
irrmediately lcl the Consortium.
Percent cJf
Tot4l
Premiurh
s4.ss%
34.91%
3.63%
0.s0%
0.33%
LBB%o
0.21%
0.s2%
0.46%
1.41%
0.50%
0.62%
0.31%
100.0070
Bstimated
Initial
Capitalization
s00,000
300,000
131,033
37,000
62,000
137,032
2,520
6,305
5 65q
18,040
6,067
7,545
4 5?5.:a=,-'"
|,223,736
Total
Reserves
66'7 \t<6
421,944
44,404
6,132
4,058
22,962
2,520
6,305
5,659
18,040
6,061
7,545
4 5?5,1"_.!
1,223,135
Reserves
l)ue
161,566
127,944
-92,629
-30,868
-5',7 q4)
-114,070
0
0
0
0
0
0
0
0
of this m;"r
Explanation: Four municipalities - the owns of Ithaca, Caroline, Danby, and Dryden, are able to
contribute a greater amount in reserve t Lan what is qwed for their municipal shares. It is anticipatecl
lities will be "paid back" with3Yo interest by the Consorlium.that by the year 2013, the four munici
Reserves Due by ttLe County and City s
is authorized to make payrnent