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• Section 2-117. Transfers from Fund to Cover Uninsured Losses. The city manager and the director of finance are authorized jointly to approve the transfer of sums from the risk management fund to the account of any city department or agency which has suffered property damage or other casualty losses or expenses which are not covered by insurance or which fall within the deductible limits of the applicable insurance coverages. Section 2-118. Expenditures from Fund to Cover Annual Premiums. The city manager and the director of finance are authorized jointly to approve the expenditure of funds as necessary from the risk management fund to pay the premiums on the city's various liability, fidelity and casualty insurance policies; provided that no new type of coverage shall be instituted, nor shall any existing coverage be increased by more than ten percent in any year without the approval of city council. Section 2-119. Compromise and Payment of Claims Against City. Claims for damages made against the city, not covered by insurance or falling within the deductible limits of any coverage, may be paid - from the risk management fund with the following limits: (a) Claims of five hundred dollars or less shall be paid by the director of finance from the risk management fund upon certification by the city attorney that the city is liable for payment or that the amount to be paid is recommended as a compromise of a claim involving disputed liability. (b) Claims of more than five hundred dollars but not more than five thousand dollars shall be paid by the director of finance from the risk management fund upon certification by both the city attorney and the city manager that the city is liable for payment or that the amount to be paid is recommended as a compromise of a claim involving disputed liability. (c) Claims in excess of five thousand dollars shall be paid from the risk management fund only after authorization from city council. Section 2-120. Compromise of Claims on Behalf of City. Whenever any sum of money due the city or any account shall be the subject of dispute the same may be compromised according to the following authorization: