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Home My WebLink AboutAgenda - 12-02-2002-8gORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: December 2, 2002 Action Agenda Item No. J SUBJECT: Examination of Bonds DEPARTMENT: Purchasing and Central Services PUBLIC HEARING: (Y/N) No ATTACHMENT(S): Bonds for: Sheriff Register of Deeds Finance Director Tax Collector Blanket coverage for all employees INFORMATION CONTACT: Pam Jones, (919) 245-2652 TELEPHONE NUMBERS: Hillsborough 732-8181 Chapel Hill 968-4501 Durham 688-7331 Mebane 336-227-2031 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 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. 11/22/2002 FRI 13:01 FAQ Suneers Thoipson Lowry ~' PuBI,.IC oFFICI~u. eorlD - FOR DEFINITE TERM TRANer'1'RS CASUALTY i a1JRE1Y COMPANY OP AMERICA Hanford. conr~eotlout o613S BOND NO. 26044172 IOdOW ALL MEN f3Y Tl1ESE PRESENTS, Thd we ALBERT L PQNDiRGRAsS of 400 SEVERIN STREET. CHAPEL WL1.. NORTH txAROLMIA, as PAndpoi. and TRAVELERS CASUALTY a SURETY COMPAt7Y OF ~JuIERICA, a aorporntion of NaRford~ Connacdcut. as Surely are held and 1frrMy bouod unto OR/1NOE COUNTY, HILL9WOR00011. NORTH CAROLINA in the penal sum oT TWENTY FIVE THOUSAND MID Ot>/1 OE-(i~000.t10}-Doitars. IavrW[ money of the Unlbsd States of /1nre~lCa,lbr 1f1s 1?aymerk ~tv+~ich well and ~b ~ be made. sell prtndpal binds WmaelLlf+erself~ hfsll~er hems, eooeadors. adrt~ntelraAoa atta sue. and said Surety bincb itself. its suooeasors and ~~- i~tiy and -. tirmiy by these prrsents SEALED and dated this 21'~ day of NOVEIIIBER. 7AOil. WHEREAS. the said prltlclPel hes bean APPOINl'EO b the off ce of SHRRiE? 1br a definite term be0inntnp DEGEi~ER !. 2002 andendirp L-Bt~1iABER 1, ?AOi imd 1s required b fumkh a bond for ttw taigr(ul pafoansr~ee of the dudes of ttM3 said otfios or positlon_ NOW, THEREFORE THE CONDITION OF THIS 08L1GATION M such that ft the about bounden Prfndpal shall (e~cAept as hereinafEer provided) taWrNgy perform the dutiue vt his/her said ofAoa ar posklon duArp the said term, and shall pay ov~srto the persons aAhortrad ey law b rncefw the sane ail moneys ~ may Dome into hisAbr hands durlnp 1M .said term wMlwut fraud or delay. and at tM expka~~on of said term, or >n oars oh hisA~er resf0rlatfOn or romoval from oilfoe. shall 1um Quarto hb~Mer sttooessor aN record; an0 property whidf have Dome info his/her hands. lher- this obBpation to be nnp grid void; olhervrMe oo remain in full tome and effect. PROVIDED, HIOV1fEVER. that the above named Su~egl shaft not be tiaWe hereunder for any Io:s of any pubilc fund tssulWfp tom the inaolvenq cfi any bank or banks to vAtich sak fluids art deposited: and. tf this provision shell be held void, this enBne bond shag be void. M1D PROVIDED FURTHER, that the • SurMy may oancN toed at any time during the said term by givfn0 to iM oblipeo a wtittcn notip of its desks so to cancel and r. the eucptretion of thirty ~ days from the rsaeipt of such native by the obligee t!a surety shell be completely released es to a8 l abiQly tlfeiesRsr aooruing. 1t this provlajon shell bs held void, this erdtne bond shell be void. _ , WITNfi<S8: ~~ TiW CASUALTY i SURCTY COMPANY Of AMfIRICA r ~~ 8; l~r A. Rlerrwninp~ 8-71~IN (1-78) i~ZE'd TT.LbZt~66T6TZ6 Ol 1.S££ Sra p0L ~lOH S13~'Of1Eltil. 2L-1 8T :£T i.BS~JZ ZZ (~V ~?. J Carolina DD° l ure Gom an estern S vv p y OFFICIAL BOND KNOW ALL PERSONS BY THESE PRESENTS: Bond No. 68793590 That we, Jo ce H. Pearson of Hillsborough ,North Carolina, as Principal, and WESTERN SURE COMPANY, a corporation duly licensed to do business in the State of North Carolina, as Surety, are hel and firmly bound unto State of North Carol ' n 25 000.00 ) in the sum of Twenty Five Thousand and 00/100 DOLLARS ($ for the payment of which well and truly to be made, we .bind ourselves and our legal repreaentativesl jointl sad sever~by these prese`nts.- Dated this 1st day of November _ 2002 _. 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 7th day of December 2002 ,and ending the 7th day of December 2006 NOW THEREFORE, if the said Principal shall in all things faithfully perform the duties of his office and shall , ~~unt for all moneys and effects that may come into hia hands in his official capacity during thec~,~~ r. ~is obligation to be void, otherwise to remain in full force and effect. !Am~4 ' ~'e ~ ted by the Surety upon the following express conditions, which shall be conditions p~}o ~!~1 + recovery hereunder: g SST: The `~yu~ shall not be liable for the loss of any public moneys or funds resulting from the fffi13~ ~x,dy~lt;'y'~~ayment by any Banks or Depositories in which any public moneys or funds have beep 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 an conditions of this bond for any and all acts covered by thin bond up to the date of ouch cancellation. W' esa to Principal ciP Witness to SURETY COMPANY North Carolina Resident Agent Approved this y ~3~ -day of OD Z. Forth 12e~-A-~-OB ERIE INSURANCE CC~u1PANY Public Official Bond Bond No. Q~!. 7360020 1HC ~na#is ~it ~Ce>n ~ 3t~ese ~resen#s, That We, .. Kezmeth,l~R'Oan! .Chaviaus ........................................................ . of .... ....~~'..~ ........................................................... s: Princpps! and the ERIE INSURANCE COMPANY. a corportbn duly incorporated under the Isws of the State of Pennsylvania. having ib principal office in the City of Erik in the said Stab, and licensed to do business in th* Sbte of .. Pennsylvania ... with offices at .100 Erie Yt~surance Place, Erie, Pa .................... ....................................i65~o ' as Suety. an held and firmly bound unto ... ~'.Coaait~- ~~.~ Ca®issionera ......... .................................................................................................. in the wm of ... ~.~,fifty, th~ousat~d ............... .................... oilers. lawful money of the United States of America. for the payment of which. well and truly to be made, we bind ourselves. our hairs. exewtor, administrator. successors and assigru. jointly and severally. firmly by theN presenb. .......28th ........... StAL,tO tiiffRM ONII SiA~li and dead this ... day of . Se~tamb~r t 9 9?.. . ................................................................ Whireaa, the above bounden ... ~~ ~o~ ~~o~ was on the .......23rd......... day of ......October ........... tla .92... duly appoint~oaa>taltNbc Of sa Deers Director Of. Finance ...................... of the . ~~ ~~. Board .............. ... . for a term tsrginning on the .?~~.d!F. of, October,, 1992 ...................................... . Now, tAerNons the oonditla+ of this obligatbn is such: .............................. ........................................ that if the show bounden ~~ rn~ ~~ shat l well and faithfully discharge the duties of his offiq and promptly account for and pay over ail moneys or property received by hint as such offlcsr. in acCOrdana with law. or in default thereof, the parties exe- cutMg this undertaking will pay as damages. cosh and expenses resulting from such default, not exceed- ing the sum shave mantlaNd. then this obligatbn to be void: otherwise to remain in full force and effect. This underbkit~g may not be changed or modified orally. No change or modification shall be effective unless made by writhe endorsenNrK issued to form a part hereof. In 1NNnees 1Nhereol, said Principal has hereunto set his hand and sed and .the ERIE INSURANCE COMPANY hss affixed ib corpOrah seal, attested by the signature of ib duly authorized Attorneyin-Fact, the day and year tint above written. Kentyet~h ~avi0~ Principal /.~'>~J~G.r~"_"_"........ . I:wE tariPArn ~, ~~-. .C.~. ~~~ ............... sFaz ~~si MS -r-r - ERIE INSURANCE CO~AP Public Official Bond c~u ~>en b~ ~~sss ~resPn#$, Bond No. Q85,~4¢0044, , Than Wa, ...~v.Astu.Svau.Ralaarsan ............................................................. ........................ as Principal. of . • ,$~.?,~$bpxaush...W.. C • .............................. rated under the laws of the State 'of snd the ERIE INSURANCE CQMPANY, a corporation duly incorpo Psrwrsylvanb. havinl~ lu principal ottk:e in the City of Erie in the said State. and licensed to do business in tM 8tale of ~'Iv~xh.Caxalina ....... with offices at ,IAO. L~ie• 7,astirance• ~laca•f •Er3•a s • P•.A: • . ae Surety, are Mid and firmyr trax-d unto Gount~c .of. Arange, • t!iostb •Caroliia• • • • • • • • • • • • • • ' ' ' ' .............................................................................................. . OOllets in th! sum of .. ~'h~tf,Y..Tbt~sand .&. Oia/.100 .............................................. . ~~ mq,,,y of the ~iqd States of America, for the payment of which, well and truly. to be made, we bind oureeivee. our heir, eurea~toa, admMbtra~rs. wccasors and se*iQns, jointly and sweralty. firmly by thew presents' uALt01N1'fN O1~11 lf.Atfi and dated this . ,gou~th .................. day of 3aauai+y • ?008..... . Mlherea~ tM above bounden- ~IQ.A;tw.Stria.xobersaA .......................................... v~ ~ the Fourttf day of . Jasuaxyc • • • • • • • • • • • • • ~ 2000.. • duly appointed or elected .... . . .......... Tax Collector o/ the .. C.auntq..of. Llraaga • . •~• • • . • • • • • • • • • • • • • • • • Fourth of January, 2000 • • • , , , , , , , , .................... .......... ...... for a farm bpinnirrp on the .... .. ............ .. . Iron TUsesloie the oondNlon oe fhb obllEation b wah: that N the above bounden .Str~t.Rpherepn ................................. ... ~4 • ~ over ali moneys ~! ~! ~ p~~ly dlschafpe the duties of his office and promptly account for and pay or pay rewi„eo by him ae such officer, in acconiance wlth law, or in default thereof, the parties exe- ~4 this undn4 ~! PaY all danKget~ cASq and expsnses rseu{tins from such default, not exceed- ing tfte wm show rrrentionsd. than thin obll0ation to Oe void; ogterwiw to remain in fuN force and effect. •~ undertdc~p mat, trot be ohanpad or modiNed only. No chanEe or irrodification shah be effective unNsa made by written endorsement bsued to Corm a part hereof. ~ whMeOb ~corp~or~it seal~athtested by the siQna w+ ot~its daulY authotrized Alttomey- nAF c~ tAi~ANY tM day and year tint show vrrittsn. • Principal ' ' ' ' ' k ~: ,~ ;;T ... wr ww •w• ERIE INSU~MICE CAMPANY gy • .'~ .. !~ .................. . . .... AtrprMY-in-Fact ~~ 1. NORTH CAROLINA COUNTIES LIABILITY AND PROPERTY INSURANCE POOL FUND SECTION IV CRIME CONTRACT DECLARATIONS Participant: Orange County Certificate Number. LP-OR-067-02 Contract Period: From 07/01/2002 to 07/01/2003 Effective Time: 12:01 a.m., Eastern Standard Time SCHEDULE OF COVERAGES AND LIMITS ~~ COVERAGE LIMIT per occurrence DEDUCTIBLE per occurrence 1. Faithful Peliormance -Blanket Position Coverage $ 250,000 $ 500 2. loss Inside the Premises Coverage $ 250,000 $ 500 3. Loss Outside the Premises Coverage $ 250,000 $ 500 4. Money Orders and Counterfeit Paper Currency Coverage $ 250,000 $ 500 5. Depositors Forgery Coverage $ 250,000 $ 500 NCACC RMP CRIME SECTION EDITION 7/1/2002 Page 1