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BICEP 2-1988
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BICEP 2-1988
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Last modified
1/3/2012 3:17:55 PM
Creation date
1/12/2004 3:43:46 PM
Metadata
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Template:
Contracts
Company Name
Big Independent Cities Excess Pool Joint Powers Authority
Contract #
A-1988-090B
Agency
Personnel Services
Council Approval Date
9/19/1988
Insurance Exp Date
7/1/2016
Notes
Liability Risk Coverage Agreement; Amended by A-1988-090C and A-1988-090B-3
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11 <br /> <br />13 <br /> <br /> 15 <br /> <br /> 17 <br /> <br /> 19 <br /> <br />21 <br /> <br />23 <br /> <br />25 <br /> <br />27 <br /> <br />29 <br /> <br />31 <br /> <br />33 <br /> <br />35 <br /> <br /> 37 <br /> <br />39 <br /> <br /> 41 <br /> <br /> 43 <br /> <br /> 45 <br /> <br /> 47 <br /> <br />49 <br /> <br /> (b) Exhibit F and the scope and extent of Coverage as <br />provided in this Agreement and Exhibit G hereto; provided <br />that, prior to the Coverage Period commencing July 1, 1991, <br />any amendment which materially increases the types of <br />exposures included in Coverage must be approved by <br />unanimous vote of the Participants; <br /> <br /> (c) a Participant's Allocable Share as provided in <br />Section 5.2 hereof; and <br /> <br /> (d) commercial insurance pursuant to Section 3.5 <br />hereof. <br /> <br /> In addition, in the event Bonds are refunded pursuant to <br />Section 2.13 of the Indenture so that aggregate principal and <br />interest due on the refunding bonds on each Payment Date is <br />less than or equal to aggregate principal and interes% on such <br />Bonds and final maturity of the Bonds is not extended, this <br />Agreement may be amended by majority vote of the Governing Body <br />to correspondingly and proportionately reduce Basic Premium <br />payments of Participants without notice to or consent of any of <br />the owners of the Bonds and without complying with Article X of <br />the Indenture. <br /> <br /> Ail amendments hereto other than amendments to be made <br />following the discharge of the Indenture and amendments <br />authorized by all of the Participants shall be effective only <br />as of the beginning of a Coverage Period and any such amendment <br />shall be further conditioned on the giving of notice by the <br />Authority of such proposed amendment to all non-consenting <br />Participants not later than the May 1 preceding the effective <br />date of such amendment. All amendments hereto other than <br />amendments to be made following the discharge of the Indenture <br />shall be further conditioned on the receipt by the Authority <br />and the Trustee of (i) an opinion of Bond Counsel to the effect <br />that such amendment does not affect the validity or <br />enforceability of this Agreement and does not adversely affect <br />the tax-exempt status of interest on the Bonds, and (ii) in the <br />case of any amendment to the methodology and formulae for <br />determination of Total Pure Premium, Pure Premium, Pure Premium <br />Rates or Pure Premium Adjustments, or any amendment affecting <br />the Coverage or any amendment to Sections 2.1(e), 2.2(g), 3.4, <br />3.5, 3.6 or Article VI hereof a certificate of an Actuary to <br />the effect that such amendment does not adversely affect the <br />actuarial soundness of the pooled self-insurance program.. All <br />costs and expenses incurred in connection with any amendment to <br />this Agreement shall be borne pro rata by the Participants. <br /> <br /> Notwithstanding the foregoing, in the event that the number <br />of Participants is five or less and the amounts in the Claims <br /> <br /> 37 <br />2658002/2 <br /> <br /> <br />
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