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fostering of the health, safety and property rights of the <br />citizens of the City and the lack of availability of reasonable <br />commercial public entity liability insurance to local <br />governments generally in the State of California and to the <br />City in particular constitutes a public emergency; <br />WHEREAS, by execution of the documents authorized hereby <br />and by participation in the Coverage program administered by <br />ICRMA, the City will not be obligated directly with respect to <br />any debt service obligation, but certain participation fees in <br />such program will be applied by the Provider to payments due <br />with respect to the Certificates which financed the <br />establishment of the program's Claims Payment Fund; <br />WHEREAS, it is necessary and in the interest of the <br />citizens of the City that there be established and maintained <br />through pro rata contributions of each Providee including the <br />City a debt service reserve fund, in order to establish <br />adequate reserves for maintenance of the Claims Payment Fund <br />previously established through the sale of Certificates of <br />Participation ("Certificates") by the Provider at the direction <br />of the Original Providees; <br />WHEREAS, this Council hereby determines that it is <br />reasonably expected that the cost of funding and maintaining <br />such reserve fund will be more than offset by the anticipated <br />benefits and economies to be realized by the pooling of risks <br />and losses pursuant to the Agreement; <br />6 <br />2658001B/2 <br />