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<br />ORANGE COUNTY - <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />McMing Oate: December 3, 2001 <br />Action Agentla <br />Eem NO. x_E <br />SUBJECT: Examination of BOntls <br />DEPARTMENT: Purchasing antl Cen[rel PUBLIC HEARING: (YM) ~No~ <br />Services ~~ <br />ATTACHMENT(S): INFORMATION CONTACT: <br />Bonds for: Pam Jones, (919)245-2652 <br />ShedB <br />Register of Deeds TELEPHONE NUMBERS: <br />Finenrs Direrdor Hillsborough ]3Td181 <br />Tax Collector Chapel Hlll 868-0801 <br />Blanket Coverage fprAll Employees purham 688A831 <br />Mebane 336-TTTT031 <br />PURPOSE: To examine Fronds for officials pursuant to G.S. 109-5. <br />BACKGROUND: General Statutes require that bonds be examined annually to tletennine <br />whether [hey have been impairetl in any way over the past year and to determine their <br />suficiency. <br />The cirwmstances antler which the bonds would be calletl upon to perform do not indiwle that <br />an Increase Is needetl above the amounts currently wmetl. These amcums am as follows: <br />Sheriff $ 25,000 <br />Register of Deeds $ 25,000 <br />Finance Director $250.000 <br />Tax Collector $30.000 <br />Wl County Employees <br />(for fabhful performance) $250,000^ <br />°Thls wvemge Is part o([he comprehensive policy through the County <br />Gommisswners Insurance pool. $250,000 is the slantlaN limd. <br />Further, there have been nc inciderHS or claims tludng the past year that would impair the <br />security o(these bontls. Therefore, tt Is rewmmentletl that the bonding limits remain attheir <br />current levels for the aforemantJOnetl positions <br />FINANQAL IMPACT: There is no tlirect fnancialimpact associatetl with the examination of <br />bones. <br />RECOMMENDATION(S): The Manager recommentls that the Board maintain the bonds at <br />[belt preeeM levels. <br />