The Mayor and City Council of Baltimore shall implement a Self-Insurance Program for Commodity, Service, and Construction Contracts for the reimbursement of any losses the City sustains through the default of a commodity, service, or construction contractor under a contract not exceeding $200,000. A Self-Insurance Fund shall be established to be used to pay for losses and other expenses of implementing and operating the Self-Insurance Program. Monies for said Fund shall be appropriated annually in the Ordinance of Estimates in an amount approved by the Board of Estimates. Payment of any and all claims under the Self-Insurance Program for losses sustained by the Mayor and City Council of Baltimore shall be made from the Self-Insurance Fund by the City Solicitor upon certification by the head of the procuring agency that the Mayor and City Council of Baltimore has sustained a loss due to the default of a commodity, service, or construction contractor. Provided, however, that for any claim exceeding $5,000, the City Solicitor shall not have authority to make any payments pursuant to this Act without both a certification of loss by the head of the procuring agency and subsequent approval by the Board of Estimates. And provided further, that in any case where the decision is contested by a contractor, the decision to pay the claim is subject to approval by the Board of Estimates. Any monies remaining in the Self-Insurance Fund at the end of any fiscal year, including any interest accrued thereon, shall be turned over to the Director of Finance to be placed in the Liability Reserve Fund. Subject to Title 4 {“Administrative Procedure Act – Regulations”} of the <cite data-path="|general">City General Provisions Article</cite>, the Board of Estimates shall have the authority to promulgate rules and regulations for the administration of this program. City Code, 1976/83, art. 1, §202 Ord. 86-774 Ord. 89-362 Text Conformed 02/14/21 By authority of Ordinance 20-431, Section 5, the Director of Legislative Reference, in consultation with the Law Department, has conformed the text of this subsection to refer to and reflect the requirements of the recently-enacted Administrative Procedure Act that, effective January 15, 2021, governs the proposal, adoption, and publication of administrative rules and regulations.