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HomeMy WebLinkAboutAGENDA REPORT 1990 0418 CC REG ITEM 08TMOORPARK yy©.01) ITEM 3: PAUL W. LAWRASON, Jr. Mayor SCOTT MONTGOMERY Mayor Pro Tern ELOISE BROWN Councilmember CLINT HARPER, Ph.D. Councilmember BERNARDO M.PEREZ Councilmember LILLIAN KELLERMAN City Clerk TO: FROM: DATE: SUBJECT: BACKGROUND HONORABLE CITY COUNCIL RICHARD HARE, DEPUTY CITY April 12, 1990 BLANKET FIDELITY BOND MANAGER; STEVEN KUENY City Manager CHERYLJ.KANE City Attorney PATRICK RICHARDS, A.I.C.P. Director of Community Development R. DENNIS DELZEIT City Engineer JOHN V. GILLESPIE Chief of Police RICHARD T. HARE City Treasurer The City of Moorpark currently has a blanket fidelity bond with Fidelity & Deposit. This blanket bond covers all of the City employees with the exception of the city treasurer. The treasurer's bond is to be held seperately. It is currently being processed through the Insurance Authority. This blanket fidelity bond is for $500,000 with a $10,000 deductible. This policy was obtained through the City's broker, Tolman & Wiker. The premium last year was $769. The renewal premium for this year is the same. Tolman & Wiker has indicated that they have solicited other quotes, however, they have not received a better one. RECOMMENDATION Authorize the City Manager to renew the City's employee blanket bond coverage with Fidelity & Deposit Insurance through Tolman & Wiker for an annual premium of $769. ,"OORPARK, CALIFORNIA City C Meefing Of i cS 199,e ACTJON:4�/� M71 799 Moorpark Avenue Moorpark, California 93021 (805) 529-6864