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net profits or losses of the Harrison Neighborhoo~ 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 />=enew 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 /> W~REAS, 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-£nsurance program with respect thereto~ and <br /> <br />-2- <br /> <br /> <br />