Permits the Oswego city school district to create an insurance reserve fund

This bill allows the Oswego City School District to create a special savings account called an insurance reserve fund. The district can use money from this fund to pay for insurance claims, lawsuits, or other financial losses related to risks that the district is required to insure. The law also grants this same ability to several other school districts across the state. This change is designed to give these specific school districts more flexibility in managing their insurance-related financial risks.