WHEREAS, a number of public entities in the State of New Jersey have joined together to form the Central Jersey Health Insurance Fund, hereafter referred to as “FUND”, as permitted by N.J.S.A. 11:15-3, 17:1-8.1 and 40A:10-36 et seq.; and
WHEREAS, the FUND was approved to become operational by the Departments of Insurance and Community Affairs and has been operational since that date; and
WHEREAS, the statutes and regulations governing the creation and operation of a joint insurance fund, contain certain elaborate restrictions and safeguards concerning the safe and efficient administration of the public interest entrusted to such a FUND; and
WHEREAS, the governing body of the of the City of Asbury Park, hereinafter referred to as “LOCAL UNIT” has determined that membership in the FUND is in the best interest of the LOCAL UNIT.
NOW, THEREFORE, BE IT RESOLVED that the governing body of the City of Asbury Park hereby agrees as follows:
i. Become a member of the FUND for the period outlined in the LOCAL UNIT’s Indemnity and Trust Agreements.
ii. Will participate in the following type(s) of coverage(s):
a) Heath Insurance and/or Dental Coverage as defined pursuant to N.J.S.A. 17B:17-4, the FUND’s Bylaws and Plan of Risk Management.
iii. Adopts and approves the FUND’s Bylaws.
iv. Execute an application for membership and any accompanying certifications.
BE IT FURTHER RESOLVED that the governing body of the City of Asbury Park is authorized and directed to execute the Indemnity and Trust Agreement and such other documents signifying membership in the FUND as required by the FUND’s Bylaws, and to deliver these documents to the FUND’s Executive Director with the express reservation that these documents shall become effective only upon:
i. Approval of the LOCAL UNIT by the FUND.
ii. Receipt from the LOCAL UNIT of a Resolution accepting assessment.
iii. Approval of the New Jersey Department of Insurance and Department of Community Affairs.