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Home My WebLink AboutAgenda - 12-05-2005-5kORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: December 5, 2005 Action Agenda Item No. 5- K SUBJECT: Examination of Bonds DEPARTMENT: Purchasing and Central PUBLIC HEARING: (Y/N) No Services ATTACHMENT(S): Bonds for: Sheriff Register of Deeds Finance Director Tax Collector Blanket coverage for all employees INFORMATION CONTACT: Pam .Jones, (919) 245-2652 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 bands 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 positicns. 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, ~~i77 PUBLIC QFFIGIAL BOND - FnR DEFINITE TERM TRAVELERS CASUALTY & SURETY COMPANY OF AMERICA Hartford. Connecticut 06183 BOND NO. 25044872- KNOW ALL MEN BY THESE PRESENTS. That we ALBERT L PENDERGRASS k~ 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 00/100--( S25,OD0.00)--Dollars, 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~` 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 came into his/her hands during the said term without fraud or delay, and at the expiration o(said term, or in case oh his/her resignation or removal from office, shall 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 P~?OVIDED, HOWEVER, chat 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 accruing. If this provision shall be held voi ,this entire bond shall be void. WI ESS: 11 t ~'~``-~i' (SEAL) '~. A bert L Pender ass (Principal) Pamela A. Flemming, Attornejv~n-fart ,_ __ ~, . ~.. ., is '. f' ,/ ~ i. it. 5-719-M (1-76) ! r,i: < /,/:' !~r /', f, F,r TRAVEL RS CASUALTY & SURETY COMPANY OF AMERICA By L ul-f/i'/~ .lit ~ GT"~~~~..-. AI"Ulliht Western OD° Surety Company OFFICIAL BOND /'~ hNOi\t AL,L PE:RSbNS 131'`'I'H1;SE PRIiS1VTS: Bonri No .6y7935 q 'That we. Joyce ~:. neaison __ _ _ _ ___. _ _ nt Fi ! spr~l?~~~`~. _... _, Nm•th Carolina, as Principal. and R);STl12N SURIsT` ( ()\1P \NT. a cuzpnration duly licensacl to do business in the State of North Carolina, as Surety, are heh and firmly bound unto $tar_e_ c,f Tlortn C:acp? ~ na _ _ in the stmt of Twenti py.ro Thousand and oc/100_. _.. _.. DOLL.-1T{S (5 ?5, ooo, ol) fm° the payment of a•Ivch well rand truly to be made, we bind ourselves and our legal represent.ntives. jointh and savet<uiy b}' these presents Dated this _ lst _ day of tac~aember _<002 'CH)/ CONDI_TION OF THI; AI30VE OBLIUATION IS SUCH, Thazt whereas, the said Principal has been appointed elected to the office of Regis- ~F ,Deeds __ fnr the term beginning the _ ?-h dw of ~ ~ ^er , ,' __ ~„ _ __ ~~U,_ ,and anrling the .h day of L1~ Ccf-D2T _ _ _ ?!7.!;6 NO~V 'PIdPRI:,P'ORE, if the said Principal shall in al] things'Eaithfully perform the duties of his office enc. shall hone~th accpunt for all moneys and effects that may come into his hands; in his of"facial capacity durine the aaid Cez m then"this obligation to be void, otherwise to remain in full force and affect. `Phis bond zs executed b,y the Surety upon the following express conditions, which shall be conditions pr~e.~d•eut to the rghti of recovery hereunder: ~.PIRS'P: 'I9te ~Suretq shall not be liable Fo~° rho loss of sny public moneys ur fiords resulting from the failure ofin• default irz payment by any Banks or Depositories in which any public moneys or funds have been depgsited. SECOND `Chi4~•bond may be cancelled by the Surety as to future liability by gi~nng written notice. by certified mail, addressed tat each, the Principal and the Obligee at _ =_ r.or t ~'arol.zra and thirty (30) days Lifter the mailing of said notices by certified mail, this bond shall he cancelled and tndl anti void as to any liability thereafter arising, the Surety remaining liable, however, subject to all the Berms anfl conditions of this bond for env and all acts covered by this bond up ro the date of such cancellation.. wt,~ness to P~ mczpal ~l/(LiGtE~„~: ~~.5 ~~GZ ~~~ / .L~ v Principal .............. 4~ritnesstoSt e «'ES'I'EftN SCIf{GTY" COMPANY fir`) -'~_" Q . U~P.x4'l.. _ _ E3v / / ,- ` . to h 7 ~ 1 rrsi~lent p ~ a Countersigned ,~'" ~/' r ~~ ~~'~-'~ ~% ivot th (3zohn t Rt~~tdcnt ~ nt / _ ~. =c ;lppro~•ed this ~?-~~ day of i~~~ ~:.'-, -~:%ti ;~C:~~ Z„ Form •2bti.n-a-98 _ ~, r, ~; i ~,.1, ; ._,' < ~ r~.: ~~..- f :. ~ I '~ Ef~IE INSUf~MCE COMPANY Public Official Bond Bond No 494 7360020 NC .. `~Jtnn£n x111 Nett l~~t `~[jese resents, That We. Kenneth, Tyrone Chavious of Ihu-ham, NC _ as Principal, and the ERIE INSURANCE COMPANY, a corporation duly incorporated under the laws of the State of Pennsylvania, having its principal office in the City of Erie in the said State, and licensed to do business in Pennsylvania 100 Erie Insurance Place, Erie, Pa the State oi .. .... .. .......... with offices at ....,... ,.., ,,. ..., 16530 as Surety. are held and firmly bound unto .. _Orange County Board Of Conmtissioners in the sum of , , . , Tt?o. hundred fifty thousand__________________________________.~ollars, lawful money of the Uni[ed 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 WI'TM OUR SEALS and dated this ... 28th September 92 .... .. .. .. .... day of ,,......... 19 ,.,.. Whereas, the above bounden Kenneth Tyrone Chavious 23rd da October 92 Y PPointcx;xoamixz{4edc was on the. yof... _,, ..... ,.... _ 19 ... ,dul a Director Of Finance Orange County Board Of Commissioners -,_._ of the .-, ..., for a term beginning on the .23rd clay of October 1,99? . .....r_ ....................... ................ Now, Therefore the condition of this obligation is such: that if the above bounden Kenneth Tyrone Chavious shall well and faithfully discharge the duties of his office and promptly account for and pay overall moneys or property received by him as such officer, in accordance with law, or in default thereof, the parties exe- cuting this undertaking will pay all damages, costs and expenses resulting from such default, not exceed- ing 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 hereof. 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 Kennel:h ;1'y~ioi:e Chavious Principal Git-~.'" ......,...:.... _ _; _. _ ERIE INSURANCE ~OMPP 1Y -.fit ~ ~,; ~.. Eduard 9! i°fazze / nttorney-~~,-r.,.r -- - Ei~l~ INSU(~V~1CE CONiPJ~l~' Public Official Bond ~itOflJ C"1j~ ~EYt ~t~f UL~ESP ~rQSEit~Br Bond NO 4855460044 Thal We, ..,JR ~nI1.Swan,(tp,heraan of ,..Hill,$hgr,R4gh.,,.U. .C. ........... ... ..... ... . ..... ... ._ as Principai and the ERIE INSURANCE GOMPANY, a corporation duly incorporated under the laws of the ~t::e of Pennsylvania, having its prindipal office in the City of Erie in the said State, and licensed to do business in the State pt N4F):h,Gv;xgliila,,,,,,. withofticesat .1.00-Exirr :Lnsurance-Itlace, Erie; P.A: as Surety, are held and firmly bound unto ,County.of .Qrang~e, North- Caralina~ inihesumof...T.h~t>=Y,ThRUSarui.b.DA/.100 .......... ......... ...... .. ........ ..Oellars. lawful money of the United States of America, for the payment of which, weU and truly to be m aur: se bind ourselves, our heirs, executers, administrators, successors and assigns, jointly and severally iir:nry by these presents, SEALED WITH OUR SEALS and dated this , .Eourxh .. . ..... . .. . .... day of yanuary 2000 Whareae,theabovebounden .J4.AnR.Swan,Rpherson .......... .......... ...,, was on the.,,,Fourth,,.,,, ,-, dayot.Januarx ................. 2000... duly appointed orelerted ;1'ax Collector .. of ttte , , fiounty..of. prazug,e.., Fourth of January, 2000 for a term beginning on tho ....................... ............ ...... ... ....... .. Naw, Thorrlora the condition of this obligation is such: thaiittheabovebamden :?°.Ann,$WAA,gpb.arspn........,,, shalt well antl faithfully discharge the tluties of his office and promptly account for and pay over all ~ Honey; or property recelvetl by him as such officer, in accordance with law, or in Uelault thereof, the ponies exe- cuting ihls undertaking will pay all damages, costs and expenses resulting'.rornstrch defau¢. note :cuee- ing the sum abdv9 mentionatl, 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 modificaCron shall i]f! etlecUve unless mado by written endorsement issued to form a part hereof. !n Wllnees Wherooi, said Principal has hereunto sat his hand and seal and the ERIE INSURAhdC:E COMPANY has affixed its corporate seal, attested by the signature of its duly authorized Attorney-ir:-:-a.:; the day and year first above written. Principal ~%~lrxYl~~,G ~~'f1LSr.~(i,~.~ ERIE INSUitAT1GE CQHWM^' _ ~ 7 i ~ Attorney m Facl ~~ -, ry-~~a~~ ~r , Noarrl CAao LI NA ASSOCIATION OF COUNTY COM MI5SION8[2S NCACC LIABILITY AND PROPERTY POOL SECTION IV CRIME COVERAGE CONTRACT DECLARATIONS Participant: Orange County Certificate Number. LP-OR-067-05 Contract Period: From 07/01/2005 to 07/01/2006 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 $ 500 Forgery or Alteration $ 500 Inside the Premises -Theft of Money and Securities $ 500 Inside the Premises « Robbery or Safe Burglary $ 500 Outside the Premises $ 500 Computer Fraud $ 500 Money Orders and Counterfeit Paper Currency $ 500 NCACC L&P POOL CRIME SECTION Page 1 EDITION 7/1/2005