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Home My WebLink AboutAgenda - 12-06-2004-5cORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: December 6, 2004 Action Agenda Item No. .~ ~, SUBJECT: Examination of Bonds DEPARTMENT: Purchasing and Central Services ATTACHMENT(S): Bands for: Sheriff Register of Deeds Finance Director Tax Collector Blanket coverage for all employees PUBLIC HEARING: (Y/N) No INFORMATION CONTACT: Pam Janes (919) 245-2652 TELEPHONE NUMBERS: Hillsborough 732-8181 Chapel Hill 968-4501 Durham 688.7331 Mebane 336-227-2031 PURPOSE: To examine bonds far 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 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, Further, 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. G~~K' i77 PUBLIC OFFICIAL BOND - FOR DEFINITE TERM TRAVELERS CASUALTY & SURETY COMPANY OF AMERICA Hartford, Connecticut 06183 - BOND NO. 25D44872 KNOW ALL MEN BY THESE PRESENTS, That we ALBERT L, PENDERGRASS ~! of 400 SEVERIN STREET, CHAPEL HILL, NORTH CAROLINA, as Principal, and TRAVELERS CASUALTY & SURETY COMPANY OF AMERICA, a corporation of Hartford, Connecticut, as Surety are held and firmly bound unto ORANGE COUNTY, HILLSBOROUGH, NORTH CAROLINA in the penal sum of TWENTY FIVE THOUSAND AND 00/iDO--( S25,000,00)--pollars, lawful money of the United States of America, for the payment of which well and truly to be made, said principal binds himself/herself, his/her heirs, executors, administrators and assigns, and said Surety binds itself, its successors and assigns, jointly and severally, firmly by these presents SEALED and dated this 21~r day of NOVEMBER, 2002. WHEREAS, the said principal has been APPOINTED to the office of SHERIFF for a definite term beginning DECEMBER 1, 2002 and ending DECEMBER 1, 2006 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 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 term, and shall pay over to the persons authorized by law to receive the same all moneys that may come into hisiher hands during the said term without fraud or delay, and at the expiration of said term, or in case oh his/her resignation or removal from office, shall turn over to hisiher 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 P~ZOVIDED, HOWEVER, that the above named Surety shall not be liable hereunder for 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 accn,ing If this provision shall be held voi ,this entire bond shall be void WI ESS: \. ~'~" ~ (SEAL) '. A bent L Pender ass (Principal) By Pamela A Flemming, Attorne' n-far.! i `f` ;~j ~ ' i .. 5-719-M(1-76) '~~r rt i,ti,r- ' i:(i;<<=i''i. 1•c ~`~',tr,.r TRAVELERS CASUALTY & SURETY COMPANY OF AMERICA D DD%'~ We~t~r-n Surety Company OFFICIAL BOND KNOW ALL PER$ON$ HY THE$E PRE$ENT$: Bond No. That wa, Joyca 8. raaraan of Ni jjgbo ough , North Carolina, ea Prindpsl, aad wE$TERN 3URET5 COMPANY, a corporation duly licensed to do business is the State of North Carolina, es Surety, aro }field andfirmlybounduntostj~te or North Carolina in the sum of 1'±±enty-Fiw~iaad and o0/100 DOLLARS ~_ ss. ooo.oo ~ ~ for the Payment of which well and truly to be made, we bind ourselves and our least xepresent@tiveayjointll amt aeveraiT,yby these pre"D6Ata:- __. _ --- -- .. _ . . Dstadthia let deyof November ~noz , THE CONDITION OF THE AHOVE OHLIOATION I9 SUCH, That whereas, the said Principal has bean ^ appointed ®elected to the office of Reoietez of Deade for the harm beginning the 7th day of December . ?Q0;' .and ending the 7th der af' ,~cembe7 2006 NOW THEREFORE, if the said Principal shall in ell things feithfuRy perform the duties of his o!'fica sad shall unt for ell moneys and effects that mqy come into his hands is his official capacity durinj the obligation to be void, otberwiw to remain is fuIl fam end sfiect. ~l d by the 8uzety upon the following erproes conditions, which shell be conditions rernvery hereunder. The shall not be liable for the low of any Public moneys of Bmda resulting from the ~dp~td ~ gyment by sny Haaiu or Depadtorier in which aqy public moneys ar funds have beer mry be cancelled by the Surety u to futux liability by giving written notice, by csrti5ad mail, addreawd to each, the Prinapal end the Obligee at State of North Carolina amt thirty (90) days after the mailing of said notices by certi5ed mail, this bond shall fie cancelled sad aul and valid as to any )lability thareaker arising. the $uroty romeining liable. however, subject to all the term conditions of this bond for say and all acts covered by this bond up to the date of such cenoelletion w' w Principal ~ /l , _r~~~,'~ witaew to wEBTERN SURETY COMPANY Q~ -/ tap sn a s, nt Countaraigoed ~'wf~ '"~"~ North Carolina ReaideutAgeat Approved this ~ r~A~ -_. ~. FpmeaUd+M L% ERlE INSURANCE COMPANY Public Official Bond ~<<afu ~U ~tn 6~ ffif~ess ~rdlttlS, sorw No. Q~!.736002o NC Thatwa. .. Ke-m!ed.TJC~!?!!via!s ..........................:.............................. a ! ~ .... ..... a Principal. and 1M ERIE INBtJRANCE COMPMIY, • corporation duly Incorporated under tM i~vre a the sea of PennejMenfe, haNnp Itt pdnalpai afka M the City a ErM M the'eeid tltea, and Itoenaed b do buetrnee In tfie 8hte of ... P~rlostltrania ...... with a1kM a .100 Lrle ~wattnca Place, Fria. Pa ........................ Y6S~if .. w aunty, ere new and nrmly bound umo ....~. Coruty no.ra Ot cam~is.tcoera ...................................................:.............................................. in tM eum a .....~.~p..2~adc~d.titt7..... ........:.....................................,. rare. lawlui money a the uniten Blew a Amertu, for the payment a whidt, welt aM trwy b be madw rw bend oureehw. ttw NeMe. eoaaloore. edmMtMrabn, arcceeeon and aeeiprw, IannY and ~aib. fMnb by Mew pneeme. fG1.ED t911fl1 OUII aw.s and dared ax........ ~~! .............. day a . ~!R~=tY 9Z... Wl~raee. tM above bounden ... R.°. nth 1~ra~r. Ch!~ri°!~ ................................... wa on the ....... ?:~~......... day a ..... ~~~ ........... t0 92 .. dub eppolMadorliMdr IIireceos Ot Fis>~ ...................... a un . ~~, Dossd of Coloaiaaiorrra for s farm bplnMrp on do .~.dlD-..4?::.ar~. fir.1992 ....................................... Naw,'thuebn dN oondltlon a this aaoatan a eudr that tr the above bowMUr .... ~~ ~~ ~O1it ........................................................... eha11 wN1 and fatthfulbdkblwpbtlfedtpiaea hNaflaandprornpllyaooowlHorand payovareM moneys or property nteeiwd by hNn w sash afioeR M aegoedencl wiM law, a M dMsult thereof. the perttee eze- eutMp this wWMtaNMq vrW pey ea damapw. ow4 and axpenaw neulnrg from euoh defsuM, not exned~ irp the sum abovaranentloned. tlNn t1Na obNpatlon b W vohk olhenaiw b remain M fW1 totes and effect, Thb undenakkq may na be ehuged or modnNd Dolly. No sharps or modMatbn ehaN De •fhctiw anises made t-y wripen MidorewurK fewed b form • put hereof. In wibrew tMlrreaf, eeW fhfndpal hw Menunto set tde bend and eve and the EftiE tNBiJRANCe coutP,~Nr has amze0 itecorporateaeal. attretw by n,aalaaubwmodxsd~norn.y-M-r.ct. dfe day and year nret above wrtMUr. ar<,ri ~m v ERIE INSIURANCE CCJMPANY Pubilc OftiCld Bond ~nafn EAU ~Css1 ~ ffi~sss ~ressn#+r, 1lorW "°. 28~@46A444.. TliatYya, ..dO.Ltnu.St-w.Ra4arwa ............................................................. a ...94lalObaxcvah...o..:c.. ...... u PrinGpal, .......... . ............:........................ artd tM ERIE INSURANCE Ct1MPANY, s oorporatlon duly Irroorpont•d unrMr tM Mwa a tM St^u bt ParMreylwrla. hwNp ht principal olfloe Nr tM Cihr d Erb in iM aeW 9taM. and Ilcenud to do bueineq to fire hate a 1TPFCh.CFTAliM....... whh otttoe• a .Inc. Eaia. xoaacnea• Rlaetr~ •8rly t • P~.xtt .. u ftMNy. ant bald and 1krMy OOta1d 1Nrt0 fountp .of. 4raada, . Hostb .Caroliaa• • • .. • .. , .:. , ... , , M 1M swa a ..7tJltstlt.Tbcat•sad.8.oilfloa. ... .. Oolgn. taaAUl ntorr•y a tM UniMd ,faun a ArtNrke, br tM,paym•nt a whkh, w•a and trwy to t» mad., wa bins ariraetua•, our Mtn, •ereoubra. ~ euceaaaora and aaMpna, lolmh and eewruty, tlrmiy by Ur.e. prw•nb. >~ rnTtt ositt stucs and done dtla . souuh .................. day a s..Y.~ • eooe .... , . trMerw,tMahovabowWan .t9.ATw.6tw-.Wrh~rsacw .......................................... waeon Mre... 84YF.~l.......... day a..JAOwugt ................:2000... duty appointed aNxtw ..... T~ Colitotor ....................... a tM .. Aouoyc.ot. Asaad........................ lourth of January, 2000 for • tarn) bepkwdrtp on 1M ............:.............. ........................................... Noeti'tAndatr tttr, cortdiacrt a thla obllpatlon to euo1K 1hatNllMabowboundan +[4.ARR.S1nw.SPhaT•pa ............................................... aMNweltandfaMlrbllydYoMtOr-1MtlutMe ahbaHa arW prompltyaocourrtforMW payowrall mon•ya Ot property nONYad by turn M each anoet, an aocotdann wIM law. of fn detaun thereof. tM partiar •na- eut>rip tMs atdMaRMtp wMt payee demapea, troebend etpenaaa retWtlnp ftom walr detauR,rat •+cc••d~ b0 tM lean abaweleaMotteq, flan thte otwipadort to be wld: odwral•e to nhaln in tub fore. end athot. 71r1e tlrtdaefaltNq rttey not be ahwtped or nwdlrted only. No ehrge or inodinatlon aheii be efheW urrleee ate0e dY wrNMn end•reernerrt Narr•d b brm a part henoi. M 1NMrteee tNltereol, aNd Prkrcfpel hn h•rarnto eel hte bend and eed and d,. tFRIE INSURANCE COMPANIY hu aMxed Ib oorp•rep eaN, attesMO by Mre Npnatun a It• duly authatited Attorney-in•Faet, 1M day end year ftrat ahovs writdt!rr. Princtpd ~r~•'/riff«~df/~~iZA[frG~D~r,~....:.. n,,FPEalSUW1CE~QJ,OI+V~MNY e ' Sy °. , ~..eaa~.~. ICS ~t~Yrf .............. . //" wranry~P+m C~r ~ ~r P cnnp,~~., rvr. .- ~ •,... cowiri ~: o ,1 .. ~__. ~ q.. ~rnnn~r n,.-o` NCACC LIABILITY AND PROPERTY POOL SECTION IV CRIME CONTRACT DECLARATIONS Participant: Orange County Certificate Number. LP-OR-067-04 Contract Period: From 07!01/2004 to 07/01/2005 Effective Time: 12:01 a m ,Eastern Standard Time SGNEDUL.E OF COVERAGES AND LIMITS COVERAGE LIMIT per occurrence DEDUCTIBLE per occurrence 1. Employee Theft -Per Loss Coverage S 250,000 $ 500 2 3 Forgery or Alteration Inside the Premises -Theft of Money and Securities S 6 250,000 250,000 5 $ 500 500 4 Inside the Premises -Robbery or Safe Burglary 6 250,000 6 50D 5 Outside the Premises S 250,000 5 500 6 Computer Fraud 6 250,000 5 500 7 Money Orders and Counterteit Paper Currency $ 250,000 5 500 ~~ NCACC L&P POOL CRIME SECTION Page 7 EDITION 7/1/2004