HomeMy WebLinkAboutCity Council Resolution 14-066 -Minimum insurance Coverage in lieu of bonds RESOLUTION NO. 14-066
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SARATOGA
APPROVING MINIMUM INSURANCE COVERAGE IN LIEU OF FIDELITY BONDS
WHEREAS, at the time the City of Saratoga was incorporated, Government Code required that
the elected positions of City Clerks and City Treasurers be bonded; and that other City employees and
officials be covered under faithful performance bonds and a blanket commercial fidelity bond;and
WHEREAS, Saratoga City Code 2-30.010 titled "Fidelity Bonds" complied with this legislative
direction requiring the use of said bonds; and
WHEREAS, in 2004, the State of California updated Government Code through Sections 1463
(elected and appointed officials) and 1481 (faithful performance) to allow public agencies the option to
utilize insurance policies in lieu of fidelity and faithful performance bonds for appointed or elected
officials, city staff,volunteers, and agents; and
WHEREAS, in 2009, the City of Saratoga adopted Resolution 09-001 to allow the use of master
surety bonds (insurance) purchased by the ABAG Plan Corporation consistent with the provisions of the
Government Code Sections; and
WHEREAS, in 2014, the City Council of the City of Saratoga revised City Code Section 2-
30.010 to establish minimum insurance coverage be set by adoption of a City Council resolution.
NOW, THEREFORE BE IT RESOLVED that the City Council of the City of Saratoga hereby
establishes minimum insurance requirements of $1,000,000 per occurrence/$5,000 deductible for
employees, volunteers, agents, and elected and appointed officials against: theft, forgery or alteration,
counterfeiting, robbery, burglary,and various other fraudulent acts.
BE IT FURTHER RESOLVED, the above and foregoing resolution was passed and adopted at a
regular meeting of the Saratoga City Council held on the 19`h day of November 2014, by the following
vote:
AYES: Mayor Emily Lo,Vice Mayor Howard Miller, Council Member Manny Cappello,
Chuck Page,Jill Hunter
NOES: None
ABSENT: None
ABSTAIN: None
Emily Lo, Mayor
ATTEST: Q i
DATE:
Crypt 1 Bothelio, City Clerk