Resolution No. 1986493
RESOLUTION NO 1986
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CYPRESS
AUTHORIZING PARTICIPATION IN THE ORANGE COUNT" CITIES
RISK MANAGEMENT AUTHORITY
WHEREAS, the City of Cypress has experienced frequent cancellations
of its liability insurance coverage and has had difficulty in obtaining
new coverage, and
WHEREAS, the costs of insurance protection in all fields of risk
have increased sharply in the last few years, and
WHEREAS, the City of Cypress has joined with other Orange County Cities
having similar insurance difficulties, in the development of the Orange
County Cities Risk Management Authority, and
WHEREAS membership in the Orange County Cities Risk Management
Authority may result in a stabilization of the insurance market for
members through professional risk management practices and standards; and
WHEREAS, the City of Cypress has received preliminary planning purpose
quotations for participating in the Orange County Cities Risk Management
Authority which will result in a substantial cost savings to the City* and
WHEREAS, the City of Cypress' participation in the Orange County Cities
Risk Management Authority is contingent upon. (1) the actual cost of
joining being equal to or less than the preliminary figures submitted
to the City and (2) the validity of the proposed buffer fund being
established to the satisfaction of the City Council or a satisfactory
substitution therefore being presented to and approved by the City
Council
NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF CYPRESS HEREBY RESOLVES*
1 To authorize participation in the Orange County Cities Risk Manage-
ment Authority as a full member in the area of public liability
risk
2 To direct the City Manager to inform the Risk Pooling Steering
Committee of the City's commitment to join the Orange County Cities
Risk Management Authority, subject to the favorable resolution
of the aforementioned contingencies
3 To further direct the City Manager to submit the actual cost of
participating in the Authority to this Council for final approval
PASSED AND ADOPTED by the City Council of the City of Cypress at a
regular meeting held on the 22nd day of May 1978
ATTEST:
CITY CLERK OF THE CITY OF CYPRESS
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
MAYOR OF TIDE CITY OF CYPRESS
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 the
said City Council held on the 22nd day of May 1978• by the following roll
call vote
AYES 5 COUNCIL MEMBERS. Evans Lacayo, MacLain, Rowan and Hudson
NOES 0 COUNCIL MEMBERS. None
ABSENT 0 COUNCIL MEMBERS. None
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CITY CLERK OF THE TY OF CYPRESS