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..188 <br /> <br />Resolution No. 88-~ <br />Page 4 <br /> <br />fund reserves initially in an amount determined sufficient <br />to pay Settlements (as defined in the Coverage Agreement) <br />when due and to provide the Coverage described in the <br />terms set forth in the Coverage Agreement and in the <br />Memorandum of Liability Coverage attached thereto (the <br />"Memorandum"); <br /> <br /> WHEREAS, the City has conclusively determined <br />following investigation that either public entity <br />liability insurance coverage is not available to the City <br />from commercial insurers or from any other source at a <br /> <br />reasonable cost; <br /> <br /> WHEREAS, the City has <br />the advice of independent <br />consultants familiar with <br /> <br />further determined, based upon <br />professional insurance <br />the cyclical nature of the <br /> <br />reasonable availability of coverage in the commercial <br />insurance market, that it is uncertain when <br />insurance is expected to become available <br />cost, thereby in the interim exposing <br />self-insuring from available revenues <br />basis with the attendant risks of fiscal instability and <br /> <br />burdens on its citizens <br />claims recoveries; <br /> <br /> WHEREAS, this Council <br /> <br /> such liability <br />at a reasonable <br />the City to <br />on a year by year <br /> <br />in the event of large liability <br /> <br />hereby further determines that <br /> <br />the periodic unwillingness of the commercial insurance <br />market to provide primary or excess public entity <br /> <br /> <br />