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net profits or losses of the Harrison Neighborhood facility are to <br />be shared equally by the parties; the net profits of the <br />concession stands are to be shared equally and the Board is solely <br />responsible for the net losses; and in all other operations the <br />City is to receive any profits and bear any losses); and <br /> <br /> WHEREAS, in addition to the Prior Agreements, the parties <br />may delegate to the Board the operation of additional Recreational <br />Programs or Recreational Facilities; and <br /> <br /> WHEREAS, the Board's insurance carrier has declined to <br />renew the portion of the Board's comprehensive liability insurance <br />policy which insured the Board and its agents and employees <br />against damage or loss arising out of the Board's operation of <br />Recreational Programs and~Recreational Facilities under the Prior <br />Agreements with the City and otherwise; and <br /> <br /> WHEREAS, pursuant to R.C. Section 755.16, the City and <br /> the Board may equip, operate and maintain Recreational Programs <br /> and Recreational Facilities, and may appropriate money therefore; <br /> and <br /> <br /> WHEREAS, it is necessary in operating and maintaining <br /> Recreational Programs and Recreational Facilities to acquire <br /> liability insurance coverage therefor, or if such liability <br /> insurance coverage is unavailable, or prohibitively expensive, or <br /> requires a large deductible, then it is necessary to establish a <br /> sound self-insurance program with respect thereto; and <br /> <br />-2- <br /> <br /> <br />