88-074 - Laserfiche WebLink

Home Browse Search

RESOLUTION NO. 88- 74 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA APPROVING AND AUTHORIZING MAXIMUM BASIC PREMIUM OBLIGATIONS UNDER A LIABILITY RISK COVERAGE AGREEMENT AND AUTHORIZING THE CITY'S REPRESENTATIVES TO THE BIG INDEPENDENT CITIES EXCESS POOL JOINT POWERS AUTHORITY TO APPROVE THE ISSUANCE OF BONDSt THE EXECUTION OF A PURCHASE CONTRACT AND THE EXECUTION AND DISTRIBUTION OF AN OFFICIAL STATEMENT BY THE BIG INDEPENDENT CITIES EXCESS POOL.JOINT POWERS AUTHORITY AND CERTAIN OTHER ACTIONS IN CONNECTION THEREWITH WHEREAS, the City Council of the City of Santa Ana on September 19, 1988 duly adopted Resolution No. 88-67 (the "First Program Resolution") approving and authorizing execution and delivery of a Joint Powers Agreement Creating the Big Independent Cities Excess Pool Joint Powers Authority, authorizing the execution and delivery of a Liability Risk Coverage Agreement and the filing of a validation proceeding and certain other actions in connection therewith; WHEREAS, pursuant to the First Program Resolution, the city of Santa Ana duly executed the Joint Powers Agreement Creating the Big Independent Cities Excess Pool Joint Powers Authority, effective September 22, 1988 (the "Joint Powers Agreement"), by and among the cities of Huntington Beach, Oxnard, Pomona, San Bernardino and Santa Ana, california (the "Initial Participants"), which established the Big Independent Cities Excess Pool Joint Powers Authority (the 'Authority"); WHEREAS, the Authority was formed to jointly develop and fund programs of excess liability and other coverages, such programs to include the creation the purchase of reinsurance, and administrative services; of joint insurance funds, the provision of necessary 443