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ORANGE COUNTY 004 <br /> .. <br /> BOARD OF COMMISSIONERS <br /> Action <br /> I <br /> ACTION AGENDA ITEM ABSTRACT tem No. ■ <br /> Meeting Date: DECEMBER 1, 1987 <br /> SUBJECT: EXAMINATION OF BONDS <br /> DEPARTMENT: PURCHASING PUBLIC HEARING: Yes X No <br /> ATTACHMENT(S) : INFORMATION CONTACT: PAM JONES <br /> 1) SHERIFF X497 <br /> 2) REGISTER OF DEEDS <br /> 3) FINANCE OFFICER <br /> 4) TAX COLLECTOR <br /> 5) BLANKET EMPLOYEE <br /> TELEPHONE NUMBER: <br /> Hillsborough - 732-8181 <br /> Chapel Hill - 968-4501 <br /> Mebane - 227-2031 <br /> Durham - 688-7331 <br /> PURPOSE: To examine bonds for officials as prescribed in G.S. 109-5. <br /> BACKGROUND: G.S. 109-5 reads as follows: <br /> "The bonds of the officers named in G.S. 109-5 shall be care- <br /> fully examined on the first Monday in December of every year, <br /> and if it appears that the security has been impaired, or for <br /> any cause become insufficient to cover the amount of money or <br /> property or to secure the faithful performance of the duties <br /> of the office, then the bond shall be renewed or strengthened, <br /> the insufficient security shall be made good; but no renewal, <br /> or strengthening, or additional security shall increase the <br /> penalty of said bond beyond the limits prescribed for the term <br /> of office. " <br /> Bonds are written for $25, 000 - Sheriff; $25, 000 - Register of <br /> Deeds; $250, 000 - Finance Director; $30, 000 - Tax Collector; <br /> $250, 000 - All County Employees for faithful performance. <br /> Note: County employee blanket bond is now covered under the <br /> comprehensive coverage offered through the County <br /> Commissioners Insurance pool. The standard limit offered is <br /> $250, 000 compared to the $10, 000 previously carried. <br /> RECOMMENDATION(S) : <br /> Approve bonds at present levels. <br />