BICEP 2A-1988 - Laserfiche WebLink

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FIRST AMENDMENT TO LIABILITY RISK COVERAGE AGREEMENT THIS FIRST AMENDMENT TO LIABILITY RISK COVERAGE AGREEMENT, dated as of December 1, 1988, by and among the BIG INDEPENDENT CITIES EXCESS POOL JOINT POWERS AUTHORITY, a joint exercise of powers agency duly organized and existing under the laws of the State of California, including, without limitation, Section 6500 et se~. of the Government Code of the State of California, (the "Authority"), and the CITY OF HUNTINGTON BEACH, CITY OF OXNARD, CITY OF POMONA, CITY OF SAN BERNARDINO AND CITY OF SANTA ANA, each a municipal corporation duly organized and existing under the Constitution and laws of the State of California (the "State"), (each a "Participant" and, collectively, the "Participants") and, in the case of Huntington Beach, Pomona, San Bernardino and Santa Ana, the respective charters of such cities; WHEREAS, the Authority and the Participants have entered into a Liability Risk Coverage Agreement dated as of October 1, 1988 (the "Agreement") whereby the Authority has agreed to provide certain levels of liability insurance coverage (the "Coverage") to each Participants and each Participant has agreed to pay a Participation Premium (as defined in the Agreement) for the Coverage to the Participants; and WHEREAS, the Agreement was effective, and the risk sharing liability coverage program implemented thereby commenced, on October 1, 1988 in contemplation of the issuance of Insurance Program Revenue Bonds, Series 1988A (the "Series 1988A Bonds") by the Authority on or about January 1989; WHEREAS, the Authority and the Agreement to set forth the the Series 1988A Bonds; the Participants wish to amend specific terms required to issue NOW THEREFORE, in consideration of the above premises and of the mutual covenants hereinafter contained and for other good and valuable consideration, the partie~ hereto agree as follows: Section 1. Amendment of Exhibits. The Agreement is hereby amended by adding the provisions of Exhibit A and Exhibit B to this Amendment in substitution for the Exhibit A and Exhibit B contained in the Agreement.