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s <br />1 <br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />Action Agenda <br />Item No. �C, <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: DECEMBER 3, 1990 <br />SUBJECT: EXAMINATION OF BONDS <br />DEPARTMENT: PURCHASING PUBLIC HEARING YES: NO: XX <br />----------------------------------------------------------------------- <br />ATTACHMENT(S): INFORMATION CONTACT: PAM JONES <br />BONDS FOR: EXT. 498 <br />SHERIFF Telephone Number - <br />REGISTER OF DEEDS Hillsborough - 732 -8181 <br />FINANCE OFFICER Chapel Hill - 967 -9251 <br />TAX COLLECTOR Mebane --227 -2031 <br />BLANKET BOND FOR EMPLOYEES Durham - 688 -7331 <br />----------_------------------------------------------------------ - - - - -- <br />PURPOSE: To examine bonds for officials as prescribed by 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 <br />carefully examined on the first Monday in December of every <br />year, and if it appears that the security has been impaired, or <br />for any cause become insufficient to cover the amount of money or <br />property or to secure the faithful performance of the duties of <br />the office, then the bond shall be renewed or strengthened, the <br />insufficient security shall be made good; but no renewal, or <br />strengthening, or additional security shall increase the penalty <br />of said bond beyond the limits prescribed for the term of office." <br />Bonds are written in the following amounts: <br />SHERIFF $25,000 <br />REGISTER OF DEEDS 25,000 <br />FINANCE DIRECTOR 30,000 <br />TAX COLLECTOR 250,000 <br />ALL COUNTY EMPLOYEES (for <br />faithful performance) 250,000 ** <br />* *This coverage is part of the comprehensive policy through the <br />County Commissioners insurance pool. $250,000 is the standard limit. <br />