Expenditures from the catastrophic loss trust fund shall be made solely and exclusively for the purpose of paying public liability claims under this chapter and annual premium payments to the Bay Cities Joint Powers Insurance Authority. All costs associated with claims in excess of two hundred fifty thousand dollars including investigation and adjustment costs and legal defense costs shall be paid out of the public liability fund, Berkeley Municipal Code Section 7.12.020. Payment of any settled public liability claim or judgment in excess or judgment up to two hundred fifty thousand dollars shall be paid out of the public liability fund, Berkeley Municipal Code Section 7.12.020; that portion of the claim of judgment above two hundred fifty thousand dollars shall be paid out of the catastrophic loss trust fund. Nothing in this section alters the requirement in Berkeley Municipal Code Section 7.12.020 that payment of any settled public liability claim, the amount which is five thousand dollars or more, shall be authorized by the City Council. (Ord. 5757-NS § 4, 1986)