Agenda Item Name:
Title
Examination of sufficiency of Public Official Bonds for County Officers
End
Presenter:
John Carnell, Risk Manager 264-6967
Description:
A Semi-Annual examination of public official bonds for County Commissioners and Constitutional Officers pursuant to F.S. 137.50 and finding all current bonds and/or insurance policies are adequate. At this time, there is no evidence to suggest that any of the current bonds are impaired or are likely to become impaired.
Recommended Action:
Recommended Action
Examine and determine the Public Official Bonds for County Officers are adequate
End
Prior Board Motions:
Examined and determined adequate
Fiscal Consideration:
Fiscal Consideration
Bonds are paid annually and covered within the appropriated funds of the General Fund. There are no fiscal needs related to this action of examining and determining adequacy.
End
Background:
Florida Statute 137.50 requires each County Commission to examine the sufficiency of the bonds for County Officers in their respective Counties every January and June. This statute affords the Commission the discretion to determine if the current bonds are sufficient, and to require new bond if the Board has reason to believe that any of the current bonds have become impaired.
Under Ordinance 98-43, the minimum bond amount is as follows:
a) Clerk of Court $100,000
b) Tax Collector $100,000
c) Sheriff $25,000
d) Property Appraiser $10,000
e) Supervisor of Elections $5,000
f) County Commissioners $2,000 each
All bonds and premiums are for a 4 year term.