The self insurance funds shall be used by the cities or towns as nonlapsing, revolving funds for carrying out the provisions of this chapter. To these funds may be charged any and all expenses of a city or town relating to the insurance of its assets and liabilities not otherwise insured, the expenses having been adjudged against the city or town by due process of law or deemed valid claims by the city or town council sitting as a “claim board”, and to this fund shall be credited all receipts of moneys as may have been adjudged in the favor of the city or town by due process of law.
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