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Thread: Bonds

  1. #1
    Cyburbian CDT's avatar
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    Mar 2005
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    Midwest
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    Bonds

    Recently I found an original surety bond in a final plat folder. I wanted to get them out of our files because I don't believe original legal instruments like these belong in our files. How do your communities keep and track bonds? I gave them to the City Clerk but she was very put off by the request because she doesn't want to deal with them.

    In the last city I worked for they were maintained and tracked by the City Attorney's office. Where I am now the City Attorney is a consultant and not a part of the City Staff and asking them to keep and track the documents is probably not realistic.

    Please enlighten me on how your communitity stores and tracks bonds/etc.

  2. #2
    Quote Originally posted by CDT View post
    Recently I found an original surety bond in a final plat folder. I wanted to get them out of our files because I don't believe original legal instruments like these belong in our files. How do your communities keep and track bonds? I gave them to the City Clerk but she was very put off by the request because she doesn't want to deal with them.

    In the last city I worked for they were maintained and tracked by the City Attorney's office. Where I am now the City Attorney is a consultant and not a part of the City Staff and asking them to keep and track the documents is probably not realistic.

    Please enlighten me on how your communitity stores and tracks bonds/etc.
    The County Engineer and handles them in my jurisdiction.
    When did I go from Luke Skywalker to Obi-Wan Kenobi?

  3. #3
         
    Registered
    Aug 2005
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    Funky Town, CO.
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    We have our Finance Department hold those documents and account for any cash bonds. If they set for too long without being released they remind us with a memo.

  4. #4
    Cyburbian CDT's avatar
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    Mar 2005
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    This is good. I was worried maybe it was commonplace to hold them in the planning files. I don't like the idea of keeping them in the files. I would love to hear more responses.

  5. #5
    Cyburbian Tide's avatar
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    Oct 2005
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    The Gig City
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    All bonds once approved by the planners and attorneys go to the County Freeholder Board for acceptance. We keep a copy in the file and all cash goes to the treasurer. Upon request for release we have a resolution signed by 3 different inspections, Roads Dept, Planning Dept, and Engineering Dept. Has to pass all 3 and the Planning Board will then make a recommendation to the Freeholder Board for release of the bond and retention of a release fee (if no fee was given at time or request for release). Then when the money is returned a copy of the letter from the treasurer that the applicant would get goes in the file.

    Hope this helped.
    @GigCityPlanner

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