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2. Sample declaration pages and coverage forms; <br />41 <br />3. Virginia Transit Self -Insurance Association Constitution <br />and By -Laws; and <br />4. Virginia Transit Liability Pool Financial Plan. <br />NOW, THEREFORE, BE IT RESOLVED, by the City Council of the Applicant <br />in a meeting assembled on the 20tl'Uay of July , 1S07: <br />1. Applicant certifies its intention to become a member of such Pool <br />for three years beginning July 1, 1987 or as soon thereafter as the <br />Pool becomes operational; <br />2. Such membership is contingent upon: <br />a. Licensing of the Pool by the Commission <br />b. Final approval of the Member Agreement and of the membership <br />of Applicant by the Association's Member' Supervisory Board. <br />• c. Payment of $ 78,402 for the first year contribution to the <br />Pool pursuant to the quotation 'submitted to Applicant or such <br />final amount as mutually agreed upon by the member and the <br />Association or their respective designees. <br />3. Applicant understands and agrees that pursuant to the terms of <br />the Member Agreement, members of the Pool may be required to pay <br />additional assessments to the Pool and that in the event the Pool <br />is in a deficit position which is not corrected, a member will be <br />liable for any and all unpaid claims against such member. <br />