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250 federal funds. Ms. Scott stated that approving the Insurance Pool would give the City's moral commitment to stay in the plan for three years. On motion by Dr. Hall, seconded by Mrs. Gleason, the resolution approving the Virginia transit Liability Insurance Pool was unanimously approved by Council. WHEREAS, the City of Charlottesville (the "Applicant") wishes to join with other political subdivisions to establish the Virginia Transit. Self-Insurance Association ("Association") to create pools to jointly and cooperatively self-insure and to pool the separate risks and liabilities of the individual members pursuant to the terms of Chapter t1.1 of Title 15.1 of the Code of Virginia (the "Act"); and WHEREAS, through such Association, the Applicant wishes to join with other political subdivisions to create the Virginia Transit Liability Pool ("Pool") whereby members can jointly pool fund sro provide the necessary anticipated financing for comprehensive general liability, automobile liability, and automobile physical damage~ and WHEREAS, it is anticipated that such Pool will be licensed by the Bureau of Insurance of the state Corporation Commission~("Commission"), pursuant to the Act and Regulations adopted thereunder; and WHEREAS, the Applicant has been provided with the following documents which provide a prototype of the rights and responsibilities of the members of the Pool and the amount and terms of the coverage to be provided: 1. Member Agreement; 2. Sample delcaration pages and coverage forms; 3. Virginia Transit Self-Insurance Association Constitution and By-LawS~ and 4. Virginia Transit Liability Pool Financial Plan. NOW, THEREFORE, BE IT RESOLVED, by the City Council of the Applicant in a meeting assembled on the 20th day of July, 1987: 1. Applicant certifies its intention to become a member of such Pool for three years beginning July 1, 1987 or as soon thereafter as the Pool becomes operational; 2. Such membership is contingent upon: a. Licensing of the Pool by the Commission; b. Final approval of the Member Agreement and of the membership of Applicant by the Association's Member Supervisory Board~ and c. Payment of $78,402 for the first year contribution to the Pool pursuant to the quotation submitted to Applicant or such final amount as mutually agreed upon by the member and the Association or their respective designees; 3. Applicant understands and agreesthat pursuant to the terms of the Member Agreement, members of the Pool may be required to pay additional assessments to the Pool and that in the event the Pool is in a deficit position which is not corrected, a member will be liable for any and all unpaid claims against such member; and 4. City Manager Cole Hendrix is authorized to do all things necessary to enable it to become a member of the Association and the Pool including but not limited to execution of the Member Agreement. ORDINANCE: RELOCATING CLARK SCHOOL VOTING PLACE (2nd reading) Mr. Wiley stated that a public hearing had been advertised in connection with relocating the Clark School Voting Place.