HomeMy WebLinkAboutCS 09/01
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REPORT TO COUNCIL
FROM:
Gillis A. Paterson
Director, Corporate Services & Treasurer
DATE: March 6,2001
REPORT NUMBER: CS 09-01
SUBJECT: Confirmation of Comprehensive Crime Insurance for 2001
RECOMMENDA nONS:
It is recommended that Report CS 09-01 of the Director, Corporate Services & Treasurer be
received and forwarded to Council for information.
ORIGIN:
Director, Corporate Services & Treasurer
AUTHORITY:
The Municipal Act, R.S.O. 1990, as amended, Section 92
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FINANCIAL IMPLICATIONS:
The purchase of Comprehensive Crime Insurance is included in the City's Annual Current
Budget.
EXECUTIVE SUMMARY:
Not applicable
BACKGROUND:
Section 92 of the Municipal Act, R.S.O. 1990, as amended, states in part:
"( l) Every treasurer, deputy treasurer and collector and every other officer of the
corporation, as the council may require,... shall give armua11y such security as the
council directs for the faithful performance of such duties...
(2) The security to be given shall be by the bond of an insurer...
(3) It is the duty of council, at a meeting... in every year... to require the production
before it of every bond, policy or guarantee contract required under this section."
Discussion:
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All employees, elected officials, and Council appointees of the City of Pickering and the City of
Pickering Public Library are bonded to the extent of $2,000,000.00. This coverage includes
bond, burglary, monetary loss, money orders and depositors forgery.
Report to Council CS 09-01
Date: March 6, 2001
Subject: Confirmation of Comprehensive Crime Insurance for 2001
Page 2
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In addition, the Director, Corporate Services & Treasurer, Manager, Accounting Services, and
Manager, Financial Services, when acting with respect to any agency or board are bonded in the
same amount and manner as when acting in the capacity of officers of the City of Pickering.
This report confirms that the above mentioned coverage with a limit of $2,000,000.00 is
currently in place with the c.G.D. Insurance Company of Canada, The Guarantee Company of
North America and Lombard General Insurance Company of Canada for the period July 1, 2000
to July 1, 2001, inclusive at a premium of $5,145.00 plus PST of $411.60 for a total of
$5,556.60.
ATTACHMENTS:
Not Applicable
Prepared! Approved / Endorsed By:
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'--"'(}illis A. Paterson,
Director, Corporate Services & Treasurer
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GAP:vw
Recommended for the consideration of Pickering
City Council
Thomas J. uinn, Chief Administrative Officer
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