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Resolution No. 88-~ <br />Page 10 <br /> <br /> WHEREAS, the City has previously adopted a resolution <br />approving the execution and delivery Of a joint powers <br />agreement meeting the Authority, authorizing the execution <br />and delivery of a liability risk coverage agreement and <br />filing a validation proceeding and certain other <br />conditions in connection therewith, on the basis that the <br />Authority's pooled liability insurance program initially <br />would consist of at least seven participating cities; <br /> <br /> WHEREAS, it is now expected that the Authority's <br />pooled liability insurance program will initially consist <br />of five participating cities and, accordingly, reapproval <br />by the City of agreements and actions relating to the <br />program is required; <br /> <br /> WHEREAS, it is expected that the Agreement will be <br />effective, and the Authority's risk sharing pooled <br />liability insurance program implemented thereby will <br />commence, as of October 1, 1988; <br /> <br /> WHEREAS, it is expected that the Bonds will be <br />subsequently issued on or about January 1989 but that the <br />proceeds of the Bonds may be used to provide Coverage to <br />the Participants from October 1, 1988; <br /> <br /> WHEREAS, execution and delivery of a First Amendment <br />to Liability Risk Coverage Agreement and a First Amendment <br />to Trust Indenture, establishing the specific terms of the <br />Bonds and the obligations of the Participants relating to <br /> <br /> <br />