Resolution No. 3170RESOLUTION NO. 3170
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CYPRESS
AUTHORIZING PARTICIPATION IN THE ORANGE COUNTY
CITIES RISK MANAGEMENT AUTHORITY LIABILITY RISK
SHARING POOL.
WHEREAS, the Orange County Cities Risk Management Authority (OCCRMA)
has provided a liability insurance program since 1978; and
WHEREAS, the member cities now totalling eleven in number have developed
over the years a cooperative working relationship to jointly solve many of
the risk management issues facing California municipalities; and,
WHEREAS, the current crisis in the municipal liability insurance
industry has left over 150 California cities without liability insurance; and,
WHEREAS, the Orange County Cities Risk Management Authority has developed
a Liability Risk Sharing Pool division to replace the liability insurance pro-
gram in the event the program is not renewed; and,
WHEREAS, the OCCRMA Board of Directors has determined that the proposed
1986 -87 insurance renewal would have such significant reductions in the policy
coverage and inadequate limits that the liability risk sharing pool should be
implemented; and,
WHEREAS the City Council of the City of Cypress has reviewed the OCCRMA
Liability Risk Sharing Pool concept and has determined that the pool concept
offers the best long range solution to the liability insurance crisis.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of
Cypress authorizes the City to participate in the Orange County Cities Risk
Management Authority Liability Risk Sharing Pool for general and automobile
liability subject to the confirmation of the proposed deposit "premium" and
pool membership.
BE IT FURTHER RESOLVED that the City Manager is authorized to place
liability insurance coverage with the current insurance carrier should the
proposed pool membership and resulting deposit "premium" significantly change
prior to final implementation of the pool.
PASSED AND ADOPTED by the City Council of the City of Cypress at a
regular meeting held on the 24th day of November, 1986.
ATTEST:
CITY CLERK OF THt CITY'OF CYPRESS
STATE OF CALIFORNIA) SS
COUNTY OF ORANGE )
MAYO OF THE CITYFCYPRESS
I, DARRELL ESSEX, City Clerk of the City of Cypress, DO HEREBY CERTIFY
that the foregoing Resolution was duly adopted at a regular meeting of said City
Council held on the 24th day of November , 1986, by the following roll call vote:
AYES: 5 COUNCIL MEMBERS: Arnold, Coronado, Davis, Mullen and Kanel
NOES: 0 COUNCIL MEMBERS: None
ABSENT: 0 COUNCIL MEMBERS: None
CITY CLERK OF THE CITY: 'OF CYPRESS