HomeMy WebLinkAboutResolutions - 1994.03.10 - 24157March 10, 1994
MISCELLANEOUS RESOLUTION #94047
BY: FINANCE COMMITTEE, JOHN P. MCCULLOCH, CHAIRPERSON
IN RE: CORPORATION COUNSEL/RISK MANAGEMENT - ADOPTION OF NEW
FAITHFUL PERFORMANCE BOND
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 a 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, Miscellaneous Resolution #93231 concluded that the
best interest of the County is served through acquisition of a
blanket bond for all officers and employees, resulting in cost
savings of approximately $20,000 annually.
NOW THEREFORE IT BE RESOLVED that upon reviewing the cost(s)
and benefit(s) of individual versus blanket, faithful performance
bond(s), the Oakland County Board of Commissioners hereby deter-
mines that a single, blanket bond, covering all elected and
appointed County officials and/or other County employees, best
serves the County interests.
BE IT FURTHER RESOLVED that each elected and appointed County
official, and/or other County employee, required by law to provide
a faithful performance bond, shall be covered by a single, blanket
bond from the Aetna Life and Casualty company in the amount of at
least $5,000, except that the County Treasurer's and the Chief
Deputy Treasurer bond shall be in the amount of $250,000.
BE IT FURTHER RESOLVED that the blanket bond covering the
County Treasurer, County Clerk/Register of Deeds, Sheriff, Drain
Commissioner, Chief Deputy Treasurer, Deputy Clerk/Register of
Deeds, Undersheriff, and/or Chief Deputy Drain Commissioner shall
cover each of these elected and appointed officials for their
entire term of office and shall not be canceled without prior
notice to the elected or appointed officials(s).
Chairperson, on behalf of the Finance Committee, I move the
adoption of the foregoing resolution.
FINANCE COMMITTEE
i:jcp\miscres\riskl
Resolution #94047 March 10, 1994
Moved by McCulloch supported by Aaron the resolution be adopted.
AYES: Douglas, Garfield, Gosling, Huntoon, Jensen, Kaczmar, Kingzett,
Law, McCulloch, McPherson, Miltner, Moffitt, Oaks, Obrecht, Palmer, Pernick,
Powers, Price, Schmid, Taub, Wolf, Aaron, Crake, Dingeldey. (24)
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 March 10, 1994 with the original record
thereof now remaining in my office.
In Testimony Whereof, I have hereunto set my hand and a ixed the seal of the
County of Oakland at Pontiac, Michigan this 10th day of rch,1291._ ,„----)
'4-r-4'-- )• CP..,"
Lyng(D. Allen, County Clerk