HomeMy WebLinkAboutResolutions - 1993.10.21 - 23802October 21, 1993
MISCELLANEOUS RESOLUTION #93231
BY: FINANCE COMMITTEE, JOHN P. MC CULLOCH, CHAIRPERSON
IN RE: CORPORATION COUNSEL/RISK MANAGEMENT - AUTHORIZATION TO
UTILIZE BLANKET BONDS FOR ELECTED OFFICIALS
To the Oakland County Board of Commissioners
Chairperson, Ladies and Gentlemen:
WHEREAS, Corporation Counsel has researched and determined
that Public Act 588 of 1978 (MCL 45.381) provides that a blanket
bond, as opposed to individual bonds, is legally permissible method
of meeting statutory bonding requirements, so long as the Board of
Commissioners affirmatively determines that a blanket bond for all
officers and employees is in the best interest of the County; and
WHEREAS, further research reveals that no such affirmative
action has been taken by the Board of Commissioners as it relates
to blanket bonds for all officers and employees; and
WHEREAS, the current duplicative coverage provided by
individual bonds costs the County approximately $20,000 annually
and, therefore, concluding that the best interests of the County is
served through acquisition of a blanket bond for all officers and
employees.
NOW THEREFORE BE IT RESOLVED that the Oakland County Board of
Commissioners authorizes the use of blanket bonds for all County
officers and employees, consistent with Public Act 588 of 1978, at
a cost savings of approximately $20,000 annually.
Chairperson, on behalf of the Finance Committee, I move the
adoption of the foregoing resolution.
FINANCE COMMITTEE
\jeff\blanket
Resolution #93231 October 21, 1993
Moved by McCulloch supported by Taub the resolution be adopted.
AYES: Johnson, Kaczmar, Kingzett, McCulloch, McPherson, Moffitt, Oaks,
Palmer, Pernick, Powers, Price, Schmid, Taub, Wolf, Crake, Douglas, Garfield,
Gosling, Huntoon, Jensen. (20)
NAYS: None. (0)
A sufficient majority having voted therefor, the resolution was adopted.
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
I, Lynn D. Allen, Clerk of the County of Oakland, do hereby certify that the
foregoing resolution is a true and accurate copy of a resolution adopted by the
Oakland County Board of Commissioners on October 21, 1993 with the original
record thereof now remaining in my office.
In Testimony Whereof, I have hereunto set my hand and afixed the seal of the
County of Oakland at Pontiac, Michigan this 21st day of c_;ctobex49$,3.
Ly1-1c: D. Allen, County Clerk