HomeMy WebLinkAbout7642 RESOLUTION NO. 7642
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDLANDS AUTHORIZING
PURCHASE OF INSURANCE POLICY OR MASTER BOND IN LIEU OF PURCHASING
INDIVIDUAL OFFICIAL BONDS
WHEREAS, Chapter 2.10 of the Redlands Municipal Code provides that "The Council
shall determine which officers and employees shall be bonded for the faithful performance of
their official duties and fix the amounts of such bonds;" and
WHEREAS, Government Code section 1481 provides in part: "[W]hen deemed
expedient by the legislative body of a local public agency, a master official bond or other form of
master bond may be used which shall provide coverage on more than one officer, employee, or
agent of the local public agency, whether elected or appointed, who is required by statute,
regulation, the appointing power, the governing board of a local public agency, or the board of
supervisors of a chartered or general law county to give bond;" and,
WHEREAS, Government Code section 1463 provides in part: "An insurance policy
procured pursuant to this section may be used as a master bond as though it were an official
bond, subject to approval of the appointing power of the legislative body;" and
WHEREAS, the City of Redlands,purchased an insurance policy that covers all City
employees for theft, fraud or crime up to Ten Million Dollars ($10,000,000); and
WHEREAS, this insurance policy covers all City employees, including those usually
required to be bonded by the City Council, and provides broader and higher coverage at limited
increase in costs;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Redlands as
follows:
Section 1. That the use of a master bond in lieu of individual bonds on City officers
and employees is expedient and therefore a master bond may be substituted for individual bonds.
Section 2. That the City's Risk Manager is authorized to acquire an insurance policy
for City officers and/or employees in lieu of a master bond in an amount not less than One
Million Dollars ($1,000,000).
Section 3. That from time-to-time, the City Risk Manager shall review the costs
involved in insuring City officers and employees, and should it be more reasonable to separately
bond City officers and/or employees, the Risk Manager is authorized to acquire bonds for the
following officers and employees in the following minimum amounts:
$1 Million City Treasurer
$500,000 City Clerk
I:\cclerk\Resolutions\Res 7600-7699\7642 Official Bonds 6 2016.docx
ADOPTED, SIGNED AND APPROVED this 21 st day of June, 2016.
Paul W. Foster, Mayor
Attest:
L\ccierk\Resolutions\Res 7600-7699\7642 Offic4 Bonds 6 2016.docx
I, Sam Irwin, City Clerk of the City of Redlands, hereby certify that the foregoing resolution was
duly adopted by the City Council at a regular meeting thereof held on the 21st day of June, 2016,
by the following vote:
AYES: Councilmembers Harrison, Gilbreath, Barich, James; Mayor Foster
NOES: None
.ABSENT: None
ABSTAIN: None
Sam Irwin, City Cler
I:\cclerk\Resolutions\Res 7600-7699\7642 Official Bonds 6 2016.docx