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HomeMy WebLinkAboutAgenda - 12-03-2007-4eORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: December 3, 2007 Action Agenda Item No. ~- - ~. SUBJECT: Examination of Bonds DEPARTMENT: Purchasing and Central PUBIC HEARING: (Y/N) No Services ATTACHMENT(S): INFORMATION CONTACT: Bonds for: Pam Jones (919) 245-2652 Sheriff Register of Deeds Tax Collector Blanket Coverage for All Employees PURPOSE: To examine bonds for officials pursuant to G.S. 109-5. BACKGROUND: General Statutes require that bonds be examined annually 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 (Note: Since bonds are purchased for named individuals, the bond for Finance Director Ken Chavious, who will retire effective 12-1-07, will be cancelled and a new bond will be purchased for the new Financial Services Director upon hiring. • Tax Collector $ 30,000 • All County Employees $250,000** (for faithful performance) **This coverage is part of the comprehensive policy through the County Commissioners Insurance pool. $250,000 is the standard limit. The "All County Employees" general bond also applies to members of the Board of Commissioners. 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: No direct financial impact associated with the examination of bonds. RECOMMENDATION(S): The Manager recommends that the Board maintain the bonds at the present levels. __.,... S.. • J Travelers Casualty and Surety Company of America ~`~ VVV// PUBI'~C oFF~C~Q~'" Bd~D One Tower Square 3PB, Hartford, CT 06183 (Definite Tenn) ~ '~ Bond No. 25044872 KNOW ALL MEN BY THESE PRESENTS, That we Albert L. Pendergrass Of 400 Severin Street, Chapel iii.ll, North Carolina aS Principal. ana Travelers Casually and Surety Company of America, a corporation duty incorporated under the laws of the State of Connecticut, as Surety, are held and firm bound unto orange County, Hillsborough, North Carolina , as Obligee, in the penal sum of Twenty. ~ive thousan (S 25,000.00 ) Dollars, lawful money of the United States. of America, for the payment of which well and truly to be made, said Principal binds himselflherself, his/her heirs, executors, administrators and assigns, and said Surety binds itself, its successors and assigns, jointly and severalty, firmly by these presents. WHEREAS, the said Principal has been elected tti the office of Sheriff for a definite term beginning DecemberT"-x'006 • ,and ending t~ec,err-ber ~, zD.2o ,and is required to famish a bond for the faithful performance of the duties of the said office or position. 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 hisrmer said office ar position during the said term, and shall pay over to the persons authorized by taw 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 Perm, ar in case of his/her resignation or removal from office. shall tam over to his/her successor alt records and property which have come into his/her hands. then this obligation to be nail and void; otherwise to remain in full force and effect. PROVIDED, HOWEVER, that the above named Surety shall not be liable hereunder for any foss of any public fund resulting from the insolvency of any bank ar banks in which said funds ace 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 al! liability thereafter accruing. if this provision shall be held void. this entire bond shall be void. SEALED and dated this 29th day of November, 2006 • ~' By. Principal Witness Travelers Casual and Surety Company of America By. Attorney-in-Fact 5-2232 toss) 3 r~npv ~.i U 1 1 Western Surety Company CONTINUATTON CERTTFTCATE Western Surety Company hereby continues in force Bond No. 68793590 briefly described ae 9Ff1T RTFD f7A TIRDDQ ;Or TOY('F H PAARSON as Principal, in the sum of $ .TWENTY-F7tlF. THDDSAND AND NO/ 100 Dollars, for the term beginning D©comher 07 2006 ,and ending December D7 2010 ,subject to ell the covenants and conditions of the original hood referred to above. This continuation is issued upon the express rnndition that the Lability of Western Surety Company under said Bond and this and all continuations thereof shall nut be cumulative and shall in no event eaceed the total surn above written. Dated this 30 day of October , 2006 WESTERN URETY CObIPANY By Paul T. Bruflat, S ror Vico Prssidont THI6 "CondnuaUon Certifleate" MU6T BE FILED WTCH TAE ABOVE BOND. Form 9PA-42002 Q. ~~ E~~ l~15Uf~A~ICE Ct~i~`r' ;^ Public Official Bond ;~ `~ i~ ~` Band iro. Q855460044 ~' ~nt~fn ~~[1 iett bg 't~I~Ef3r ~res~n~s, ~~! ~:~ ., That We. ..:?4.2~nn.Swan.Ru6ersan . .................. ..... ........ .... _ of ...Hit.~sbora~gh.,..~...C. ............................... ...................... as ~r~•~~.:~;:~.. 5~,~ _ and the ERIE LNSUAANCE COM?Ah1Y, a cprporarinn duty inco~porstEe under the Laws et thE• '.~c~-:,; :~i ~' •,• Pennsylvania. having ifs principal office in the City of Erie to the s.7ic' Stara, and iir_er;sed 'r~ da :~usi~•u~a •,• ';~ F_ the State of '?orl:h.Gaxal3.zta....... with offices at .1.00. E•r-ie• ~.nsura~nce• •P>:ace•; Erie; P.A. ~y: ~~. ~ as Surety, are geld and firmly bound unto iCoun.tX .of..Orange, • Nor• th• •Caralina ~: , in the sum of ..?:>1~•t•1=y.Th~usarui.&. OA/.200 ......................~.::....... ~ •s P 3~Ild. ~i lawful money of the United States of America, tar the payment of white, weu and truly to bra rr, acs. „_ ~,~ bind ourselves, our heirs, executors, administrators, successors and assigns, jOil7tiy acid sevErau; ;rr .-:. .~ by these presents. ~~.` y , ~i ,SEALED WlYti OUA SFJtLS end dated this ..Eouxth .................. aay of J.anua•ry •''000 ~ f t#lihereas, the above bounden :?R.Az~r1.Sw~.n.Rrab.erson......... ~'` ,•-. was on the .. , ,Fourth, , , .. , , , , , day of . ,~anuaxy ................. 2000... duly appointed or e~c :led ..._..Tax Collector ........... ......•.,., of tits fount ,of.fl a .... ... .... M' -y. r n.&e ;;- Fourth of January, 2000 ~; fora term beginning on the ............................................ ..... ............ - Cs; Naar, Thartfora the condition of this obligation is such: • that if the above bounde:t JQ ,Ann ,S~y~an ,gQberaQZt ................... . ............ .... . shall well and faithfully discharge the duties of his office and promptly account tar and pay GvE r al! ~ ~..,. ,:~ or property received by him as such officer, in accordance with taw, ar in t;erau~t thereof, the air'{;~:•_ ~.x.:- euting this undertaking will pay all damages, costs and ezpen,es resulting :prom such Qefau;t, rot E:a~sr::- ing thg sum above mentioned, then this obligation to be void; otherwise to remain m f~.tir torte ant ettect. ~~ =- This undertaking may not be changed or rrraditied aralty. No cttenge or modification s!ia-! ee stlartr~e ~` unless made by written endorsement issusd to form a part hereof. ;l iy t~ i M Wlineas Whereof, said Principal has i~ereunta set his hand and sea! and the ERfE lhtSl.l,'~ar,.~ ;' ~'" M: COMPANY has affixed its corporate seat, attested by the signaiurs ~,t is c'.ula ~:;tnor~z2q ~,ttorns•,• ~ - ,r the day and year tirst above written. rrinc•ipai . ;:~i.~.k~X~:y'.i!l,~..:`~t'~L4,r;.~,-St_,_ J= 'r i ETlJE ItJS;,.Ii+A/~CE CG'fPAI~^.' •_- ~- '- ,.. • ~ Attornfy-an-Fact a - - ~ N O R T H C A R O L I N A ASSOCIATION OF COUNTY COMMISSIONERS NCACC LIABILITY AND PROPERTY POOL SECTION IV CRIME COVERAGE CONTRACT DECLARATIONS Participant: Orange County Certificate Number:. LP-OR-067-07 Gontract Period: From 07/01/2007 to 07/01/2008 Effective Time: 12:01 a.m., Standard Time SCHEDULE OF COVERAGES AND LIMITS COVERAGE LIMIT Employee 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 DEDUCTIBLES COVERAGE 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 Burglary $ 1,000 Outside the Premises $ 1,000 Computer Fraud $ 1,000 Money Orders and Counterfeit Paper Currency $ 1,000 NCACC L&P POOL GRIME SECTION Page 1 EDITION 7/112007