2005/04/27 Council Agenda Packet

Final May 19,2004 13 F. Fiscal Year shall mean that period of twelve months which is established as the fiscal year of the Pool. G. Governing Board shall mean the governmental authority or legislative body empowered to act under the provisions of Title 35, Title 35A, Chapter 36.57 and 36.57a RCW or a chapter adopted by any Transit System of the State of Washington. I-1. Transit System shall mean a transit system owned and operated by a public agency such as a City, a County, a County Transportation Authority or a Public Transportation Benefit Area. Where a transit system is owned and operated by a city and is not governed by an entity other than a city council, then as used in this agreement the term governing board of that city owned and operated transit system shall mean the city council of that city, and the term transit system shall mean the city. Article 2 PURPOSE This agreement is entered into for the purpose of authorizing the creation of the Washington State Transit Insurance Pool, which shall be organized as a joint purchasing group under Chapter 48.62 RCW, to provide to Member Transit Systems programs of joint self-insurance,joint purchasing of insurance and joint contracting for or hiring of personnel to provide risk management, claims handling, and administrative services. Article 3 PARTIES TO AGREEMENT Each party to this Agreement certifies that it intends to contract with all parties who are signatories of this Agreement on its effective date and with such other parties as may later be added to and become signatories to this Agreement. Each party also certifies that the cancellation or withdrawal of any party shall not affect this Agreement nor such party's intent to contract pursuant to the terms of this Agreement with the then remaining parties. Article 4 DURATION OF AGREEMENT This Agreement shall become effective when signed by eight Member Transit Systems.This Agreement shall have perpetual duration unless terminated as hereinafter provided. 129