Purchase- Blanket Employee Dishonesty Policy of Insurance

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ORDINANCE N0. ~~~~- /~ AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, AUTHORIZING THE PURCHASE OF A BLANKET EMPLOYEE DISHONESTY POLICY OF INSURANCE TO COVER ALL OFFICERS, EMPLOYEES, COMMISSION MEMBERS, AND PERSONS ACTING ON BEHALF OF THE CITY OF SOUTH BEND STATEMENT OF PIIRPOSE AND INTENT The City of South Bend currently maintains two (2) separate forms of insurance covering the faithful performance of various City officers and employees: Public Official Schedule Bonds covering the South Bend Controller, Finance Director, and thirty- six (36) other scheduled positions (including members of various Commission and Boards), and a Blanket Public Employee Dishonesty and Faithful Performance Bond covering all City employees. The coverage provided under the Schedule Bonds totals $300, 000 each for acts of the City Controller and Finance Director, and $15,000 each for all other scheduled positions. The coverage limit under the Blanket Policy totals $1,000,000 per loss. The Schedule Bonds are not subject to a deductible, whereas the Blanket policy is subject to a $2,500 deductible. The premium for the Schedule Bonds totals $1,946 annually. I.C. 5-4-1-18 allows a municipal fiscal body, by ordinance, to authorize the purchase of a blanket bond or crime insurance policy endorsed to include faithful performance to cover the faithful performance of all employees, commission members, and persons acting on behalf of the municipality, including City Controllers, Clerks, and those employees directed to file an individual bond by the municipal fiscal body. Inclusion of all scheduled positions under the City's Blanket Bond and illumination of the individual surety bonds will result in a premium savings to the City. NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, AS FOLLOWS: SECTION I. The purchase by the City of a blanket bond or crime insurance policy endorsed to include faithful performance to cover the faithful performance of all employees, commission members, and persons acting on behalf of the municipality, including: 1. City Controller 2. Finance Director 3. City Clerk 4. Board of Public Works 5. Board of Public Works 6. Board of Public Works 7. Park Commissioner 8. Park Commissioner 9. Park Commissioner 10. Park Commissioner 11. Utility Boards 12. Utility Boards 13. Utility Boards 14. Century Center Board 15. Century Center Board 16. Century Center Board 17. Century Center Board 18. Century Center Board 19. Century Center Board 20. Century Center Board 21. Century Center Board 22. Superintendent/Park 23. Board of Safety