Title
Dept/ Agency: Administration/Office of Management & Budget
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Dedication by Rider Trust
Purpose: To obtain approval from the Department of Community Affairs to establish a Dedication by Rider Trust for Unemployment Insurance Liability and Workers’ Compensation Insurance Funds and appropriate and expend the revenue for the purpose to which said revenue is dedicated.
Additional Information:
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WHEREAS, permission is required of the Director of the Division of Local Government Services for approval as a dedication by rider of revenues received by a municipality when the revenue is not subject to reasonable accurate estimates in advance; and
WHEREAS, N.J.S.A. 40A:10-1 et seq. provides for receipt of Self Insurance Funds by the Municipality to provide for the operating costs to administer this act; and
WHEREAS, N.J.S.A. 40A: 4-39, also provides that such anticipation and expenditure of dedicated revenue is subject to the approval of the Director of the Division of Local Government Services; and
WHEREAS, it is the desire of the City of Newark, New Jersey to anticipate and expend certain dedicated revenue under the provisions of the self insurance statutes, N.J.S.A. 40A: 10-6 et seq. and N.J.S.A. 40A: 10-12 et seq.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. The Governing Body of the City of Newark does hereby request permission of the Director of the Division of Local Government Services in the Department of Community Affairs to pay expenditures of the Unemployment Insurance, Liability and Worker’s Compensation Insurance Funds pursuant to N.J.S.A. 40A:10-1 et seq. and,
2. The City Clerk of the City of Newark, New Jersey is hereby directed to forward two (2) certified copies of this resolution to the Director of the Division of Local Government Services.
STATEMENT
This resolution requests the approval of the Director of the Division of Local Government Services to establish a Dedication by Rider Trust for Unemployment Insurance, Liability and Worker’s Compensation Insurance Funds and to appropriate and expend the revenue for the purpose to which said revenue is dedicated.