HB3798 was passed in the last legislative session which made some changes relating to expenditures made by emergency service districts under Health & Safety Code 775.073. Since this statute now requires a bond for a district employee that is allowed to sign an instrument to disburse district funds, this employee must have a separate specific bond. Public Employee Blanket bonds exclude coverage for anyone required by law to be bonded, therefore, the district treasurer must have a separate specific bond as well as a district employee as mentioned above.
If you have any questions regarding these bond requirements, please e-mail us @ email@example.com or call (800) 252-9435.
Effective 9/1/13 Health & Safety Code 775.073 now reads in part:
(b) The board by resolution may allow a district employee who has executed a bond in an amount equal to the amount required for the district treasurer to sign an instrument to disburse district funds. An expenditure of more than $2,000 may not be paid unless the expenditure is presented to the board and the board approves the expenditure.
To read the entire HB3798 text, please CLICK HERE.
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