1997/06/02 RESOLUTION AUTHORIZING REQUEST FOR FIDELITY BOND COVERAGE PURSUANT TO STATE LAW RESOLUTION AUTHORIZING REQUEST FOR
FIDELITY BOND COVERAGE PURSUANT TO STATE LAW
WHEREAS, the Harnett County Board of Commissioners, sitting as the
governing body of the South Central Water and Sewer District of Harnett County
(hereinafter the "Board") , desires for Fidelity Bond Coverage in connection with
a One Million Dollar ($1,000,000.00) loan by the United States Department of
Agriculture-Rural Development to be in conformity with the laws of the State of
North Carolina as opposed to that required by USDA-Rural Development Regulations
or Instructions; and
WHEREAS, in a letter dated November 6, 1995 to this Board concerning
conditions of such loan, it is stated that the District may make a written
request to the USDA-Rural Development for review and decision on Fidelity Bond
Coverage; and
WHEREAS , it is the desire of the Board to make written request that
Fidelity Bond Coverage be at the amount required by the North Carolina State
Statutes;
NOW, THEREFORE, BE IT RESOLVED by the Harnett County Board of
Commissioners, sitting as the governing body of South Central Water and Sewer
District of Harnett County, that:
1. The District make written request to the USDA-Rural Development that
the Fidelity Bond Coverage be at the amount required by the North Carolina State
Statutes as opposed to the amount required by the USDA-Rural Development
Instructions or Regulations.
2 . That Alton D. Bain, Harnett County Public Utilities Attorney, is
designated as representative of the District for the purpose of requesting in
writing that Fidelity Bond Coverage be at the amount required by State Statutes.
Duly adopted this 2nd day of June, 1997, upon motion made by Commissioner
Joseph T. Bowden duly seconded and passed by the following vote:
Ayes 5 Noes 0 Absent 0 Abstained 0
\F:% Harnett County Board of Commissioners
-i :•• Cr p `�.= sitting as the governing body of the
L'H'.� South Central Water and Sewer District
‘4". • 1985-. : A ° of Harnett County
••••.. .4:•• By: 04E44- A GC.4 "
Dan B. Andrews
Attest:
Xo-�, I. �P-4id
Kay S. Blanchard, Clerk of the
Board and of South Central Water
and Sewer District of Harnett
County