HomeMy WebLinkAbout2008-OR-33Ordinance 2008-OR-~~
AN ORDINANCE AUTHORIZING THE PURCHASE OF
A BLANKET BOND TO INSURE THE FAITHFUL
PERFORMANCE OF ALL ELECTED OFFICIALS, EMPLOYEES,
COMMISSION MEMBERS, AND PERSONS ACTING ON BEHALF OF
JEFFERSONVILLE'S LOCAL GOVERNMENT
WHEREAS, Indiana Code 5-4-1-18 provides that the City Council may fix
the amount of the bond of City Judges, City Controllers, City Clerk-Treasurers,
Commission Members Barrett Law Fund Custodians and persons acting on
behalf of any government unit of the City of Jeffersonville;
WHEREAS, in order to comply with the law the City presently purchases
individual bonds for each of the elected officials, commission members and
Barrett Law Fund Custodians;
WHEREAS, IC 5-4-1-18(b) allows the City to consolidate all of those
bonds required by IC 5-4-1-Et. Seq. and secure a single bond which results in a
substantial financial savings to the citizen taxpayers of the City of Jeffersonville,
Indiana;
WHEREAS, in order to save money and insure that all elected officials,
commission members and Barrett Law Fund Custodians have sufficient bond
security the Jeffersonville City Council, pursuant to IC 5-4-1-18(b) does hereby
authorize the City of Jeffersonville to purchase a blanket bond in the sum of
Three Hundred Thousand Dollars ($300,000) to insure the faithful performance
of all employees, commission members and persons acting on behalf of
Jeffersonville government;
THEREFORE, BE 17 ORDAINED THAT:
A. That in order to save taxpayer money the City Council authorizes the City
Executive to purchase a Blanket Bond to Insure the Faithful Performance
of All Elected Officials, Employees, Commission Members, and Persons
Acting on Behalf of Jeffersonville Local Government in lieu of purchasing
individual performance bonds far each elected official, commission
member and employee;
B. That the City, pursuant to IC 5-4-1-18 purchase a Blanket Bond which
provides the City and its taxpayers protection from Forgery, Alteration,
Theft, Disappearance and Destruction, Computer Fraud, Employee
Dishonesty and insurance of faithful performance;
C. That this ordinance shall be in full force and effect until that time wherein
the City Executive produces evidence that it shall be more economically
prudent for the City to purchase individual performance bonds. If, upon
presentation of such evidence to the council, this circumstance shall exist
in the future, this ordinance shall be deemed null and void.
Voted Against:
Passed this Z day of S , 2008.
N br'+
yor Thomas Gall gai
Attest: -~ ~~
Pegg ilder, Clerk-Treasurer
Presented by me, Peggy Wilder~s the Cle{A,c and Treasurer to the Mayor of said
City of Jeffersonville, Indiana on this ~L day of ~ uSY, 2008.
P,ONaan 1.1 ~, ,Ce~R,I~
Peggy r, Clerk-Treasurer
This ordinance approved and signed by Thomas G Iligan, Mayor of the City of
Jeffersonville, Indiana on this ~ day of U U5 , 2008.
Thomas Galliga a or
This ordinance was vetoed by me, Thomas Galligan, Mayor of Jeffersonville,
Indiana on this the day of , 2008.
Thomas Galligan, Mayor