HomeMy WebLinkAbout93-011A RESOLUTION DF THE BOARD OF SUPERVISORS OF
BUTTE COUNTY APPROVING THAT CERTAIN
LIABILITY RISK COVERAGE AGREEMENT DATED AS pF
MARCH ~. , 3.993 .
WHEREAS, the Baard of Supervisors {the "Board") of the
County of Butte {the "County"} pursuant to Resolution Na. $7-3 ,
adapted on h4arcti 3 1987 { the "Resolution") , authorized the
execution of a Liability Risk Coverage Agreement dated as of June
1, 1987 as amended as of July 1, 19$8 {the '"1987 Liability
Agreement"} by and among the CSAC Excess Insurance Autharity {the
"Authority"), the County and certain counties within the State of
California named therein {collectively the "Counties'"), which 1987
Liability Agreement established a pooled self-insurance program
(the "Insurance Program"); and
WHEREAS, the Resolution authorized the execution of a
Trust Agreement dated as of June 1, 1987 the "Trust Agreement") by
and among the Authority, the Counties and Seattle-First National
Bank, as trustee, which Trust Agreement provided for the execution
and delivery of $34,020,000 CSAC Excess Insurance Authority
Certificates of Participation {Liability Insurance Program} (the
"Certificates") ; anal
WHEREAS, on March 31, 1992 the Baard of the Authority
fully paid and defeased the outstanding Certificates {as defined in
the Trust Agreement} and discharged the Trust Agreement, as
provided therein; and
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WHEREAS, Section 4.1 of the 1987 Liability Agreement
provides that upon the discharge of the Trust Agreement, the
coverage provided by the Insurance Program terminates unless the
Board of the Authority elects to continue such program; and
WHEREAS, Resolution No. 92-002 adopted by the Governing
Baard of the Authority an March 6, 1992 continued the Coverage
provided by the 1987 Liability Agreement; and
WHEREAS, the Board of the Autharity and the Counties have
determined that it is desirable to execute another Liability Risk
Coverage Agreement to eliminate all provisian.s relating to the
Certificates anal. to make certain. other changes as provided therein;
NOW, THEREE'ORE, BE IT RESOLVED BY THE BOARD OF
SUPERVISORS 0~' BUTTE COUNTY AS FOLLOWS:
Section 1. All of the recitals hereto are true and
correct.
Section 2. The Berard hereby approves the Liability Risk
Coverage Agreement to be dated as of March 1, 1993, submitted to it
far review and hereby authorizes the Chairman. of the Board and the
Clerk of the Board to execute said Liability Risk Coverage
Agreement on its behalf.
Section 3. The provisions of the 1987 Liability
Agreement shall continue to govern the Coverage provided and all
Claims and Settlements prior to March 1, 1993, and the rights and
obligations of the parties thereto relating to Risk Premium
Adjustments with respect to such Coverage, Claims anal Settlements.
Section 4. This resolution shall take effect .immediately
upon its adoption.
PASSED AND ADOPTED this 9~h day of February 1993 by
the following vote, to wit:
AYES: Supervisors Meyer, Dolan, McLaughlin, Thomas and Chair Houx
NOES : None
ABSTAIN: None - /1
ABSENT : None `
Mary A e Houx, Chair a the
Butte County Board of Supervisors
ATTEST:
Jahn S. Blaoklock, Chief Administrative Officer
and Clerk of the and
By:
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