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RESOLUTION NO. 2-86 <br />A RESOLUTION AUTHORIZING THE VILLAGE PRESIDENT TO EXECUTE A <br />LETTER OF AGREEMENT FOR THE VILLAGE TO PARTICIPATE IN THE <br />EXCESS INSURANCE POOL STUDY GROUP AND AUTHORIZE THE SUM OF <br />$5,000.00 BE INITIALLY PAID INTO AN ESCROW FUND TO BE MAIN- <br />TAINED FOR THE COSTS INCURRED BY THE STUDY GROUP <br />NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees <br />of the Village of Elk Grove Village, Counties of Cook and DuPage, State of <br />Illinois: <br />Section 1. That the Village President is hereby authorized to <br />execute the subject Letter of Agreement, a copy of which is attached <br />hereto and made a part hereof as if fully set forth and the Village Clerk <br />is authorized to attest said document upon the signature of the Village <br />President which authorizes participation by the Village of Elk Grove Village <br />in a Study Group to analyze the feasibility of creating an intergovernmental <br />self-insurance pool to provide a scope of coverage above high self-insured <br />retention amounts covered by individual municipal self-insurance. <br />Section 2. That the Village President and Board of Trustees hereby <br />authorize the sum of $5,000.00 be initially paid into an escrow fund to <br />be maintained for the costs incurred by the Study Group. <br />Section 3. That this Resolution shall be in full force and effect <br />from and after its passage and approval according to law. <br />VOTE: AYES: 6 NAYS: 0 ABSENT: 0 <br />PASSED this 14th day of January 1986. <br />APPROVED this 14th day of January 1986. <br />Charles J. Zettek <br />Village President <br />ATTEST: <br />Patricia S. Smith <br />Village Clerk <br />