Explanation
This legislation will authorize and direct the City Auditor to enter into contracts bonding for the 1.) City Treasurer, 2.) Deputy City Treasurer, 3.) Police up through the rank of sergeant, 4.) all other City employees and elected or appointed officials including all officially appointed members of City Boards and/or Commissions, 5.) forgery or alteration, 6.) money and securities on premises, 7.) money and securities off premises, 8.) money orders and counterfeit money, 9.) computer fraud and 10.) social engineering AKA fraudulently induced transfers. The coverage obtained for the City Treasurer, Deputy City Treasurer, police up through the rank of sergeant, all other City employees and elected or appointed officials including all officially appointed members of City Boards and/or Commissions, forgery or alteration, money and securities on premises, money and securities off premises, money orders and counterfeit money, computer fraud and social engineering commences 01-01-2017 and expires 12-31-2019. After publically advertising in the City Bulletin for three weeks and one direct mail solicitation to eighteen (18) prospective bidders, one (1) response was received.
Huntington Insurance, contract compliance #34-1715613, (vendor #006810), expiration date 9/22/2018.
FISCAL IMPACT:
Currently $137,409.00 of appropriation authority is available within the General Fund in the Auditor’s Office.
EMERGENCY DESIGNATION:
Emergency action is requested to avoid any delays in finalizing the contracts to ensure the new policies are in place prior to expiration of the existing insurance and to avoid a lapse in coverage.
Title
To authorize and direct the City Auditor to enter into contract with Huntington Insurance for the bonding of various city employees, elected and appointed officials, and members of city boards and/or commissions; to authorize the expenditure of $137,409.00 from the General Fund; and to declare an emergency. ($137,409.00)
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