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HomeMy WebLinkAboutAgenda - 12-06-2010 - 4fORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: December 6, 2010 Action Agenda Item No. 4 " -F SUBJECT: Examination of Bonds DEPARTMENT: Asset Management PUBLIC HEARING: (Y/N) No ATTACHMENT(S): Bonds for: Sheriff Register of Deeds Tax Collector Blanket coverage for all employees Financial Services Director INFORMATION CONTACT: Pam Jones, (919) 245-2652 PURPOSE: To examine bonds for officials pursuant to G.S. 58-72-20. BACKGROUND: Certain positions or officials in County government are required by law to be covered by a fidelity bond. The bond will ensure the County is protected in the event the official or employee mishandles County money. Statutes also require that each Board of Commissioners examine these bonds each year to determine whether they have been impaired in any way over the past year and to determine their sufficiency. The circumstances under which the bonds would be called upon to perform do not indicate that an increase is needed above the amounts currently carried. These amounts are as follows: • Sheriff $ 25,000 (on file with the Clerk of Court) • Register of Deeds $ 25,000 (on file with the Clerk of Court) • Financial Services Director $250,000 • Tax Collector $ 30,000 • All County Employees (for faithful performance) $250,000** **This coverage is part of the comprehensive policy through the County Commissioners Insurance pool. $250,000 is the standard limit. There have been no incidents or claims during the past year that would impair the security of these bonds. Therefore, it is recommended that the bonding limits remain at their current levels for the aforementioned positions. FINANCIAL IMPACT: There is no direct financial impact associated with the examination of bonds. RECOMMENDATION(S): The Manager recommends that the Board maintain the bonds at their present levels. TRAVELERS .~ PUBLtC OFFICIAL BOND (Definite Term) Bond No. 25044872 Travelers Casualty and Surety Company of America One Tower Square 3PB, Hartford, CT 06183 KNOW ALL MEN BY THESE PRESENTS, That we Albert l_. Pendergrass of d00 Severin Street,Chauel Hill North Carolina 27514 as Principal, and Travelers Casualty and Surety Company of America, a corporation duly incorporated under the laws of the State of Connecticut, as Surety, are held and firmly bound unto Orange County, Hillsborough, North Carolina , as Obligee, in the penal sum of Twenty Five Thousand ($25,000) Dollars, lawful money of the United States of America, for the payment of which we11 and truly to be made, said Principal binds himselflherself, his/her heirs, executors, administrators and assigns, and said Surety binds i#self, its successors and assigns, jointly and severally, firmly by these presents. WHEREAS, the said Principal has been elected to the office of Sheriff for a definite term beginning December 01L2010, and ending December 01, 2014, and is required to furnish a bond for the faithful performance of the duties of the said office or position. NOW, THEREFORE THE CONDITION OF TN1S OBLIGATION is such that if the above bounden Principal shall (except as hereinafter provided} faithfully perform the duties of his/her said office or position during the said term, and shall pay over to the persons authorized by law to receive the same all moneys that may come into his/her hands during the said term without fraud or delay, and at the expiration of said term, or in case of his/her resignation or removal from office, shalt turn over to his/her successor all records and property which have come into his/her hands, then this obligation to be null and void; otherwise to remain in full force and effect. PROVIDED, HOWEVER, that the above named Surety shall not be liable hereunder far any loss of any public fund resulting from the insolvency of any bank or banks in which said funds are deposited; and, if this provision shall be held void, this entire bond shall be void. AND PROVIDED FURTHER, that the Surety may cancel bond at any time during the said term by giving to the obligee a written notice of its desire so to cancel and at the expiration of thirty (30) days from the receipt of such notice by the obligee the surety shall be completely released as to all liability thereafter accruing. If this provision sha11 be held void, this entire bond shall be void. SEALED and dated this November 30, 2010 i~ By: '~~~~/ fitness nncipal By: tt ney-in- a 2 S-2232 (08-99) _3 North Carolina OD°l~ - es~~rr~ Sure ~~~ ~ -~ ~~ ~U ~;r u ~ ... ~ : .;. ~: ~ ,, .:,.C. OFFICIAL BOND „(.____ ._._....______. KNOW ALL PERSONS BY THESE PRESENTS: Bond No. 70951455 That we, Deborah Bradsher Brooks of Hillsborough ,North Carolina, as Principal, and WESTERN SURETY COMPANY, a corporation duly licensed to do business i_n the State of North Carolina, as Surety, are held and firmly bound unto State of North Carolina in the sum of Twenty-Five Thousand and 00/100 DOLLARS ($ 25, 000.00 ~~ for the payment of which well and truly to be made, we bind ourselves and our legal representatives, jointly and severally by these presents. Dated this 22nd ~y of June ~o> 0 THE CONDITION OF THE ABOVE OBLIGATION IS SUCH, That whereas, the said Principal has been ^ appointed ®elected to the office of Register of needs far the term beginning the 1st day of July 2010 ,and ending the 1st day of July 2014 aC.StG y't`O,R.~ mad.:Eysrv~ d0.kC, NOW THEREFORE, if the said Principal shall in all things faithfully perform the duties of his office and shall ~afunt for aIl moneys and effects that may come into his hands in his official capacity during the r is obligation to be void, otherwise to remain in full force and effect. b ~ e ted by the Surety upon the following express conditions, which shall be conditions ~~ th .' a recovery hereunder: ~ ST: The 51. shall not be liable for the loss of any public moneys or funds resulting from the f o~~.dl~~ayment by any Banks or Depositories in which any public moneys or funds have been may be cancelled by the Surety as to future liability by giving written notice, by certified mail, addressed to each, the Principal and the Obligee at state of North Carolina and thirty (30} days after the mailing of said notices by certified mail, this bond shall be cancelled and null and void as to any liability thereafter arising, the Surety remaining liable, however, subject to all the terms and conditions of this bond for any and all acts covered by this bond up to the date of such cancellation. Wi~ie~ss to Principal Principal Witness toSuz~ ^~ WESTERl~SURETY COMPANY By Paul T. B t, Se or Vice President Countersigned v North Carolina Resident Agent :a.,/ t Approved this 2 ~ day of ~w K ~' ~ ~G! D Form 12fi4-A-11-2002 ~~ t~'` ~Q ~ _ C:~ SC• ~Ves~ern sure ~~~. ~~~~n .... ,may t. MID-TERM RIDER It is hereby mutually agreed and understood by and between the Principal and WESTERN SURETY COMPANY, that this bond takes effect on July 1. 2010 ,and applies only to covered acts of the Principal occurring after that date. Nothing herein contained shall be held to vary, alter, waive or extend any of the terms, limits or conditions of the bond ,except as hereinabove eet forth. This Rider becomes effective on the ~ day of July ~ 2 oio , at twelve and one minute o'clock a.m., standard time. Attached to and forming part of bond No. 70951456 issued by WESTERN SURETY COMPANY of Sioux Falls, South Dakota, to Deborah Bradsher Brooks Signed this 2nd F~ _,... day of July ~ 2010 WESTERN URETY COMPANY By Paul T. Bruflat, Se or Vice President 4 Form 128-8-4-2007 5 ~~~ ~ r~ ~~ ~1/estern Buret ~or~ an~ ~ ~-~ Tt is hereby mutually agreed and understood by and between the Principa~~ and Western Surety Company, that instead of as originally written: The anniversary date has been changed to December 7th, 2010 No further changes other than above. Nothing herein contained shall be held to vary, alter, waive or extend any of the terms, limits or conditions of the Bond ,except as hereinabove set forth. X09°~~~~~ ~'~~ yyee~~ ~$d °j 6'~~~AA ~~°as~ '~ effective on the 2nd day of July 2010 , at tv~~ one~u,~'clock a.m., standard time: ~~ ;~ G~` hfon~'~~` a `wing part of B°nd No, 70951456 issu~d~~' ~ `~` E R N SURETY COMPANY of Sioux Falls, South Dakota, to Deborah Bradsher Brooks Signed this 2nd day of July ~ 2010 Form t2&4-2Q02 WESTER SURETY COMPANY By Paul T. Bruflat, Se or Vice President C1VA 12/1/2010 1:52;38 PM PAGE 1/001 Fax Server 6 COPY Western Surety Comparry CONTINUATION CERTIF'TCATE Westea n Surety Company hereby continues ut force Bond No. 7 0 9514 5 E briefly desc~sbed as E-EUISTER OF for D%&ORP~I BRAUSHER BROOKS as Principal, in the sum of $ Twenty-Five Phoisaaa and 00/100 Dollars, for the term beguining Dere_nber 7 ~ 2010 ,and ending Dece.niaer 7 _~ 2014 ,subject to all the covenants and conditions of the original band referred to above. This continuation is issued upon the express condition that the liability of Western Surety Company under said Bond and this and all continuations thereof shall not be cumulative and shall in no avert exceed the total sum above written. Dated this 30th day of Ncvenbe.r , 20_0 WESTER SURETY COMPANY By Paul T. Bruflat, Se or Vice President THIS "Continuation CertiScate" MUST BE FIT.ED WITH THE ABOVE BOND. Form 9QA-4-20Q2 i~ 7 Public Ofi#icini Bond tta£tr ~iI rn b~ ffihr~r ~rr~rzZts, Bond No. Q85S4b0044, , Tftat We, ...J4 . ~nR . Swan. Ruhersczn .... . ................................ ...................... . of ~~-?:~.sbox.Q~g~,,..~...C. .... ......... . .......... .. , . , .... .............. as F'rincspal, and~the ER[E INSUE~ANCE COM.PAMY, s corporation duly incorpora~ted.under the laws of the State of Pennsylvania, having its principal office in the City of Eris in the s<~id State, and licensed to da busihess in the State of ??Qx~h .Cazal~.na ....... with offices at 1.Q0. Erie. ~~suranee• Rlaea,• •Eri:e; • P•.•A: • • ,. as Surety, are held and firmly bound unto ~Coun~~ , of. Arang~a, . tdortTr •Garol-ina• • • • • • • • • • • • - in the sum of .. Th~t'~Y..ThQUSanri .~. 011/.100... ............... .......... ..... . ......... Dal#ars, lawful money of the United States of America, ftyr the paytn~tnt af~which, well and truly to be made, wa~ band ourselves, our heirs, executors, administrators, successors and assigns, joirttiy and severally, firmly by these presents. $i..A!<EO WITH Ol,1R SEALS and dated this ..~'oux[h .................. day of January • 2000 ..... . 1Nhereas, the abovo bounden .~4.ARU.Swau.~hersQ~ ........................ . ................. . was an the . , . Fourth, .. , ~ , , , , , day of . ,~~auuaxy ........ . ........ 2000... duly appointed ar elected Taxi Collector Of the .. G.QUmfy..of. Llsanve . Fourth of January, 2000 far a term beginning on th© ......< .............................<........<........................ Hoar, Therefore the condition of th#s obNgatian is such: that if the above bounden Jo,Apn ,~Sw~;~ ~RpJ~~~~PR .............................................. . shalt well 8nd falthfutty discharge the du#ies of his office and promptly account far and pay over elf moneys or property received by him as such aNicer, in acoardanCe with #aw, ar in default thereat, the parties exe- cuting this undertaking will pay ail damages, costs and expanses resulting from such default, not eucr~ect- ing the sum above mentioned, then this obligation to be void; otherwise to rema'sn in full force and effect. This undertaking msy not be t;hanged or modified orally. No change ar rnadiflcation shall b+a eifectiv$ ur:less made by written endorsement issued to form a part hereof. !n Witness 1Nhereaf, said Principal has hereunto set his hand and sent and the Ei=ill~ tMSUI#AhltrE CO[#APANY has affixed its corporate seal, attested by the signature of its duly authorized Attorney-in-?=act, the day and year first above written. Principal ... .1~...... . t7~lE 1NSt,ll~At~ICE C~AAt~Y Adorn&y-#n-fact 8 N o_ R T 1~ C~ R O I. I rr a NCACC Risk Management Pools AS5UCIAT7QIV ~F COUNTY C(~MMISSIONHI2S Liability and Property SECTION lV CRIME COVERAGE CONTRACT DECLARATIONS Participant ORANGE COUNTY Contract Number LP-OR-067-10 Contract Period July 1, 2010 to July 1, 2011 Effective Time 12:01 A.M., Eastern Daylight Time SCHEDULE OF COVERAGS AND LIMITS COVERAGE LIMIT Emplo ee Theft (per Loss Coverage $250,000 Forgery or Alteration $250,000 Inside the Premises Theft of Money and Securities $250,000 Inside the Premises Robbery or Safe Burglary $250,000 Outside the Premises $250,000 Computer Fraud $250,000 Money Orders and Counterfeit Paper Currency $250,000 DEDUCTIBLE Employee Theft (per Loss Coverage $1.,000 . Forgery or Alteration ;=$1.000 Inside the Premises Theft of Money and Securities ::$1:;000. Inside the Premises Robbery or Safe Bur la $.1;000 Outside the Premises $1~OOd. Computer Fraud ;.~~fl0a. Money Orders and Counterfeit Paper Currency '$1;000 NCACC RMP Crime Section Issued _. Edition 711!2009 6/25/2010 Erie Insurance Company Meml~r • Erie Insurance Group 100 Erie Insurance PI. • Erie, PA 15530 REVISED OBLIGEE COPY CONTINUATION NOTICE AGENTS NUMBER AND NAME J11010 THE BALLARD AGY INC NAME AND ADDRESS OF PRINCIPAL CLARENCE GRIER 3207 STONYPOINT BR GREENSBORO NC 27406 NAME AND ADDRESS OF OBLIGEE ORANGE COUNTY BOARB OP COMMISSIONERS P 0 BOX 8181 HILLSBOROUGH NC 27278 BOND NO. Q96 6460060 NC CONTINUATION EFFECTIVE DATE From 12/14(2010 BOND AMOUNT To 12/14/2411 $250,000 CONTiNUATIQN CERTIFICATE tt is hereby agreed that the captioned numbered Bond is continued in force in the above amount fior the period of the continued term stated above and is subject to all the covenants and conditions ofi said Bond. This continuation shall be deemed a part of the original Bond, and not a new obligation, no matter how Tong the Bond has been in force or how many premiums are paid for the Bond; unless otherwise provided for by statute or ordinance applicable. In witness whereof, the company has caused this instrument to be duly signed, sealed and dated as of the above "continuation effective date". ERIE INSURANCE COMPANY B ~~ Y Darlene Musica ATTORNEY - IN -FACT 9 LG F 944 08Jll8 10/25/10