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HomeMy WebLinkAboutAgenda - 12-05-2011 - 5iORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: December 5, 2011 Action Agenda , Item No. 5- ~ SUBJECT: Examination of Bonds DEPARTMENT: Asset Management Services PUBLIC HEARING: (Y/N) No ATTACHMENT(S): INFORMATION CONTACT: Bonds for: Pam Jones, Director, (919) 245-2652 Sheriff Register of Deeds Tax Collector Blanket Coverage for All Employees Financial Services Director PURPOSE: To examine bonds for officials pursuant to North Carolina General Statute 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. The 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) • Finance Director $250,000 • Tax Administrator $250,000 • 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. The Board will note the limit for Tax Collector has been increased in 2011. The new limit more accurately reflects the actual cash exposure for the office. There have been no incidents or claims during the past year that would impair the security of these bonds. FINANCIAL IMPACT: No direct financial impact associated with the examination of bonds. RECOMMENDATION(S): The Manager recommends that the Board maintain bonding levels as stated. 7"RAVEL~RS,~ Travelers Casualty and Surety Company of America PUBLIC OFFICIAL BOND pne Tower Square 3PB, Hartford, CT 06183 (©efinite Ter~mj Bond No. 25044872 KNOW ALL MEN BY THESE PRESENTS, That we Albert L Pendergrass of 400 Severin Street,Cha~el Hill North Carolina 27514 as Principal, and Travelers Casualty and Surety Companv of America, a corporation duly incorporated under the laws of the State of Connecticut, as Surety, are held and firmly bound unto Orange County, Hiiisborou h North Carolina , as Obligee, in the penal sum of'fwenty Five Thousand ($25,000) Dollars, {awful money of the United States of America, for the payment of which well and truly to be made, said Principal binds himself/herself, his/Yier heirs, executors, administrators and assigns, and said Surety binds itself, 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 01, 2010, and ending December 01, 201.4, and is required to furnish a bond for the faithful performance of the duties of the said office or posifian. NOW, THEREFORE THE CONDITION OF THIS 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 #erm, and shat! pay over to the persons authorized by law to receive the same all moneys that may came into his/her hands during the said term without fraud or delay, and at the expiration of said term, or in case of hislher resignation ar removal from office, shall tum over to hislher 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 effec#. PROVIDED, HOWEVER, that the above named Surety shall not be liable hereunder for any loss of any public fund resuit'tng from the insolvency of any bank or banks in which said funds are deposited; and, if this provision shall be held void, this en#ire bond shall be void. AND PROVIDED FURTHER, that the Surety may cancel bond a# any time dda s from thetre e~pt o'f'such notce lb ~ e written notice of its desire so #o cancel and at the expiration of thirty (30) y obligee the surety shall be completely released as to all liability thereafter accruing. if this provision shall be held void, this entire bond shall be void. SEALED and dated #his ,November 30, 2010 y fitness nncipal By; tt rney-in- a 2 S-2232(08-99) 3 North Carolina OD°l ~ _ Western Sure Com ~~ r ~ -~~.~ ,, ~:~~~ ,, . OFFICIAL BOND "'___.._, , _ .__!..__\~: KNOW ALL PERSONS BY THESE PRESENTS: That we, Deborah Bradsher Brooks Bond No. 70951456 of Hillsborough ,North Carolina, as Principal, and WESTERN SURETY COMPANY, a corporation duly licensed to do business in the State of North Carolina, as Surety, are held and firmly bound unto Sate 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 day of June zoi o THE CONDITION OF THE ABOVE OBLIGATION IS SUCH, That whereas, the said Principal has been ^ appointed ®elected to the office of Register of Deeds for the term beginning the 1st day of July 2010 ,and ending the 1st day of July 2014 X.1;G (/'1`~,a,v rnbd~:(c~snGj dAa'C. NOW THEREFORE, if the said Principal shall in all things faithfully perform the duties of his office and shall ! hunt for all moneys and effects that may come into his hands in his official capacity during they, f. ~ .obligation to be void, otherwise to remain in full force and effect. y`~}xs ted by the Surety upon the following express conditions, which shall be conditions p~Q~t`o tlid ~ recovery hereunder: ~~ST: The~~ shall not be liable for the loss of any public moneys or funds resulting from the f o~b~.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 cancellatnion. Wi~ne~ss to Principal _ . /~~ /1 ~ ., n // Principal WitnesatoS WESTER URETY COMPANY ' By Paul T. Br at, $e or Vice Presideni Countersigned ~ ~ North Carolina Resident Agent Approved this `Z2 day of ~~"~~° ~ZG~O Forth 1264A-11-2002 Western Suret o ~ man y ~.p... y .F. /,_" t r RIDER _ .:, ~~:• ~~ .' ~ ~ ~: ' ; f' S.C. It is hereby mutually agreed and understood by and between the Principal _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. effective on the 2nd day of Jul o'clock a.m., standard time. 2010 , at ., . h ~ ~~` ` Bond ~,,~, o at'ming part of lip, 70951456 issu~el~+Gl~*~ •~,~ E R N SURETY COMPANY of Sioux Falls, South Dakota, to fg~tgttitilltsu4 Deborah Bradsher Brooks Signed this 2nd Forth 128-4-2002 day of July WESTER SURETY COMPANY By G..~ Paul T. Bruflat, Se or Vice President 4 PUBLIC OFFICIAL BOND ~ZnuYn ~Cll Ten 6p ~Cljese ~re~ent5, Bond No. Q87 5160330 That we, Jenkin Street Crayton of Greensboro, North Carolina as Principal, and the ERIE INSURANCE COMPANY, a corporation duly incorporated under the laws of the State of Pennsylvania, having its Home Office in the City of Erie in said State, and licensed to do business in the State of Pennsylvania with offices at 100 Erie Insurance Place, Erie, PA 16530 as Surety, are held and firmly bound unto Orange County Government in the sum of Two hundred fifty thousand Dollars, lawful money of the United States of America, for the payment of which, well and truly to be made, we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents. SEALED WITH OUR SEALS and dated this 1st day of March, 2011. Whereas, the above bounden Jenldn Street Crayton was on the 1st day of March, 2011, duly appointed or elected Tax Collector of the Orange County Government for a term beginning on the March 1, 2011. Now, Therefore, the condition of this obligation is such: that if the above bounden Jexildn Street Crayton shall well and faithfully discharge the duties of his office and promptly account for and pay over all moneys shall well and faithfully discharge the duties of his office and promptly account for and pay over all moneys or property received by him as such officer, in accordance with law, or in default thereof, the parties executing this undertaking will pay all damages, costs, and expenses resulting from such default, not exceeding the sum above mentioned, then this obligation to be void; otherwise to remain in full force and effect. This undertaking may not be changed or modified orally. No change or modification shall be effective unless made by written endorsement issued to form a part thereof. In Witness Whereof, said Principal has hereunto set his hand and seal and the ERIE INSURANCE COMPANY has affixed its corporate seal, attested by the signature of its duly authorized Attorney-In-Fact, the day and year first above written. Principal: By: 5 SF-22 1 /00 6 ~ ' N ° ~ T ~r _ t-; a R c~ r. I N A NCACC Risk Management Pools ASSOCIATION OF COUNTl CC?MMISSIONERS Liability aI)d F'1'O}aei'ty SECTION IV CRIME COVERAGE CONTRACT DECLARATIONS Participant ORANGE COUNTY Contract Number LP-OR-067-11 Contract Period July 1, 2011 to July 1, 2012 Effective Time 12:01 A.M., Eastern Daylight Time SCHEDULE OF COVERAGS AND LIMITS COVERAGE Emplo ee Theft er Loss Covera a LIMIT Fore or Alteration $250,000 $250 000 Inside the Premises Theft of Money and Securities , $250 000 Inside the Premises Robbe or Safe Bur la , $250 000 Outside the Premises , $250 000 Com uter Fraud , $250 000 Money Orders and Counterfeit Paper Currency , $250,000 DEDUCTIBLE Em to ee Theft per Loss Coverage $1 000 For ery or Alteration , $1 000 Inside the Premises Theft of Money and Securities , $1 000 Inside the Premises Robbe or Safe Bur lary , $1,000 Outside the Premises $1 000 Computer Fraud , $1 000 Money Orders and Counterfeit Paper Currency , $1,000 NCACC RMP Crime Declarations Page Issued Edition 7/1/2011 6/27/2011 Erie Insurance Home Office 100 Erie Insurance Place Erie, Pennsylvania 16530 814.870.?_000 ToII free 1.800.458.0811 Fax 814.870.3126 www.erieinsurance.com PUBLIC OFFICIAL BOND ~ttoiu III Nett by ~ije~e ~re~ettt~', Bond No. Q96 6460060 That we, Clarence Grier of Greensboro NC as Principal, and the ERIE INSURANCE COMPANY, a corporation duly incorporated under the laws of the State of Pennsylvania, having its Home Office in the City of Erie in said State, and licensed to do business in the State of North Carolina with offices at 100 Erie Insurance Place, Erie PA 16530 as Surety, are held and firmly bound unto Orange Co Board of Commissioners office of Purchasing/Director of Finance in the sum of Two Hundred Fifty Thousand Dollars, lawful money of the United States of America, for the payment of which, well and truly to be made, we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents. SEALED WITH OUR SEALS and dated this l lth day of January, 2010. Whereas, the above bounden Clarence Grier was on the 14`h day of December, 2009, duly appointed or elected Director of Finance of the Office of Purchasing for a term beginning on the December 14, 2009. Now, Therefore, the condition of this obligation is such: that if the above bounden Clarence Grier shall well and faithfully discharge the duties of his office and promptly account for and pay over all moneys shall well and faithfully dischazge the duties of his office and promptly account for and pay over all moneys or property received by him as such officer, in accordance with law, or in default thereof, the parties executing this undertaking will pay all damages, costs, and expenses resulting from such default, not exceeding the sum above mentioned, then this obligation to be void; otherwise to remain in full force and effect. This undertaking may not be changed or modified orally. No change or modification shall be effective unless made by written endorsement issued to form a part thereof. In Witness Whereof, said Principal has hereunto set his hand and seal and the ERIE INSURANCE COMPANY has affixed its corporate seal, attested by the signature of its duly authorized Attorney-In-Fact, the day and year first above written. Principal: V(,~,c.,. /J, J~ Clarence Grier RIE NCE COMPAN~' By: Dzrlene MusicalAttorney-In-Fact SF-22 1 /00 7 The ERIE Is Above All fn Service®. We commit, care and serve. li's our true blue promise.