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. 414 Resolution No. 88-~ Page 4 determined sufficient to pay Settlements (as defined in the Coverage Agreement) when due and to provide the Coverage described in the terms set forth in the Coverage Agreement and in the Memorandum of Liability Coverage attached thereto (the "Memorandum"); WHEREAS, the City has further determined, based upon the advice of independent professional insurance consultants familiar with the cyclical nature of the reasonable availability of coverage in the commercial insurance market, that it is uncertain whether such liability insurance will be available at a reasonable cost on a consistent basis, thereby exposing the City to self-insuring from available revenues on a year by year basis with the attendant risks of fiscal instability and burdens on its citizens in the event of large liability claims recoveries; WHEREAS, this Council hereby further determines that the periodic unwillingness of the commercial insurance market to provide primary or excess public entity liability insurance to local governments at reasonable rates or, in certain cases, at any rate, mandates that the City seek not only an immediate solution but also a long-term permanent solution to this problem which will in future years free them from exposure to the vagaries of commercial insurance cycles;