Bonds For College Officials, Designated Employees And Contractors: 6HX-10-1.05

ADMINISTRATIVE RULES

PURPOSE

This rule establishes policy concerning bonds required by officials, designated employees of Hillsborough Community College and contractors.

RULE

It will be the responsibility of the District Board of Trustees to provide, at College expense, the bonding of its members and any employee who is responsible for money or property. The amount of the bond, which may be an individual, schedule, or blanket bond, will be prescribed by the Board and adequate to protect the College and College funds involved.

Performance bonds will be required in accordance with other administrative rules and procedures established by the board and applicable state laws.

Each Board member will file a surety bond in the amount of ten thousand dollars ($10,000) conditioned upon the faithful performance of the duties of the office. The obligee will be the Governor of Florida and the surety bond will be filed with the Secretary of State.

History:

Adopted: 9/21/71; Revised: 9/21/71; 12/18/74; 7/20/80; 9/18/95; 2/1/06; Formerly: 6HX-10-1.013