ORD 2002-07 FAITHFUL PERFORMANCE BONDS ORDINANCE No. 2002-07
AN ORDINANCE OF THE CITY OF BAINBRIDGE ISLAND,
WASHINGTON RELATING TO FAITHFUL PERFORMANCE
BONDS, AND AMENDING SECTION 2.08.040 OF THE
BAINBRIDGE ISLAND MUNICIPAL CODE.
WHEREAS, the City Council has required since at least 1974 that all employees
be covered by faithful performance bonds obtained at City expense; and
WHEREAS, the minimum amounts of those official bonds is specified in BIMC
2.08.040; and
WHEREAS, the State of Washington requires that the minimum amount of such
bonds for the City's auditing officer and all persons authorized to sign checks be
specified by the City Council to be not less than $50,000; now, therefore,
THE CITY COUNCIL OF THE CITY OF BAINBRIDGE ISLAND, WASHINGTON,
DO ORDAIN AS FOLLOWS:
SECTION 1. Section 2.08.040 of the Bainbridge Island Municipal Code shall be
amended as follows:
2.08.040 Official Bonds.
A. Before undertaking the duties of office, the director of finance and
administrative services shall qualify by furnishing a fidelity bond at the
expense of the city in the sum of $100,000.
B. The auditing officer of the city and all persons authorized by the city to
Sign checks or warrants shall be covered by a blanket faithful performance
bond in the sum of not less than $75,000 or such greater amount as may be
specified by State law as hereafter amended.
C. All other city officers and employees shall be covered by a blanket faithful
performance bond in the sum of not less than $50,000, with surety
acceptable to the mayor. The premiums on said bond shall be paid by the
city.
SECTION 2. This Ordinance shall take effect and be in force on and five days from
its passage, approval and publication as required by law.
PASSED by the City Council this 27'h day of February 2002.
APPROVED by the Mayor this 2ffh day of February 2002.
Darlene Kordonox~y, M,~
ATTEST/AUTHENTICATE:
Susan P. Kasper, City Clerk
APPROVED AS TO FORM:
Rod P. Kaseguma, City Attorney
FILED WITH THE CITY CLERK: January 16, 2002
PASSED BY THE CITY COUNCIL: February 27, 2002
PUBLISHED: March 6, 2002
EFFECTIVE DATE: March 11, 2002
ORDINANCE NO.: 2002-07