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INTERLOCAL AGREEMENT <br />CREATING THE PUGET SOUND CITIES <br />INTERLOCAL INSURANCE AUTHORITY <br />THIS AGREEMENT is made and entered into in the State of Washington by <br />and among the municipal corporations organized and existing under the <br />Constitution or laws of the State of Washington, hereinafter collectively <br />referred to as "Member Cities" or "Cities," and individually as "Member City" <br />or "City" which are parties signatory to this Agreement and listed in Appendix <br />A, which is attached hereto and made a part hereof. Said Cities are sometimes <br />referred to herein as "parties." <br />RECITALS <br />WHEREAS, Ch. 48.62 RCW provides that two or more local governmental <br />entities may, by interlocal agreement, provide insurance for any purpose by <br />any one or more of certain specified methods, and <br />WHEREAS, each of the parties to this Agreement desires to join together <br />with the other parties for the purpose of pooling their self insured losses <br />and jointly purchasing excess insurance and administrative services in <br />connection with a joint protection program for said parties, and <br />WHEREAS, it appears economically feasible and practical for the parties <br />to this Agreement to do so, <br />NOW, THEREFORE, for and in consideration of all of the mutual benefits, <br />convenants and agreements contained herein, the parties hereto agree as <br />follows: <br />ARTICLE I <br />Definitions <br />The following definitions shall apply to the provisions of the Agreement: <br />(a) "Authority" shall mean the Puget Sound Cities Interlocal Insurance <br />Authority created by this Agreement. <br />(b) "Board of Directors" or "Board" shall mean the governing body of <br />the Authority. <br />1 <br />