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416 <br /> <br />Resolution No. 88- ~ <br />Page 6 <br /> <br /> (d) the option to obtain relief from the <br /> commercial insurers' rights under excess liability <br /> policies to force claim settlements which are payable <br /> primarily in each case from the Participant's <br /> self-insurance funds, <br /> <br /> (e) access to the commercial reinsurance market <br /> in future years when commercial reinsurance is <br /> available at rates deemed favorable by the <br /> Participants, and <br /> <br /> (f) actuarially-determined premium payments <br />calculated to provide amounts in each year necessary <br />to maintain the claims Payment Fund at an actuarially <br />sound level and therefore sufficient to reserve <br />against the incurred losses of the Participants; <br />WHEREAS, this Council hereby further determines that <br />the Participation Premium (as defined in the Coverage <br />Agreement) to be paid in each year by each Participant, <br />including the City, as provided for and upon the <br />conditions set forth in the Coverage Agreement will be <br />payable only upon the condition of the receipt of the <br />consideration represented by the insurance protection to <br />be provided in such year under the Coverage Agreement, but <br />in the event that such protection is so provided in any <br />year such Participation Premium will be a binding <br />obligation of the City payable from legally available <br /> <br />moneys; <br /> <br /> <br />