Agenda - 12-02-1985 - Laserfiche WebLink

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ORANGE COUNTY 037 BOARD OF COMMISSIONERS ACTION AIWA ACTION AGENDA ITEM ABSTRACT Imm NO. MEETING DATE December 2, 1985 SUBJECT: EXAMINATION OF OFFICIAL BONDS DEPARTMENT: pugarAsING & cENTRAL sEmacEs PUBLIC HEARING: YES xx NO ATTACHMENT(S) : ' BONDS FOR THE FOLLOWING: INFORMATION CONTACT: Pam Jones, ext 498 1. Sheriff 2. Register of Deeds PHONE NUMBERS: HILLSBOROUGH - 732-8181 3. Finance Officer HILLSBOROUTd - 732-9361 4. Tax Collector CHAPEL HILL - 967-9251 5. Blanket Employee ME3ANE - 227-2031 DURHAM - 688-7331 PURPOSE: To conduct an examination of bonds as required by State law of the following officers, employees and agents: • 1. Sheriff 2. Register of Deeds 3. Finance Officers 4. Tax Collector 5. An officer, employee or agent of the County who handles or has in his custody more than $100.00 of the County's funds at any time or who handles or has access to the inventories of the County. NEED: G.S. 109-5 reads as follows: "The bonds of the officers named in G.S. 109-5 shall be carefully examined on the first Monday in December of every year, and if it appears that the security has been impaired, or for any cause become insufficient to cover the amount of money or property or to secure the faithful performance of the duties of the office, then the bond shall be renewed or strengthed, the insufficient security shall be made good; but no renewal, or strengthening, or additional security shall increase the penalty of said bond beyond the limits prescribed for the term of office." IMPACT: - The Sheriff's bond, is presently written for a total of $25,000.00, representing $5,000.00 "for the due execution and return of process, payment of fees and moneys collected, and the faithful execution of his officelas sheriff" and $20,000.00 ttLthe collection and settlement of County and other local taxes according to law, a sum not exceeding the amount of Such county and other local taxes for the previous year", as satipulated in G.S. 161-8. - The Register of Deeds bond is presently $25,000.00, G.S. 161-4 requries that the bond be not less than $10,000.00 but not more than $50,000.00. - The Finance officer's bond is presently $250,000.00, the maximum allowed under G.S. 159-29 (A). - The Tax Collector's bond is presently $30,000.00 G.S. 105-349 (C) says that the amount of this bond is to be determined by the Board of Commissioners. - All Cou-ntylemployees are bonded to $10,000.00 through a Faithful Performance Blanket Position Bond. RECOMMENDATION: Approve Bonds at present levels.