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LAW OFFICES OF <br />William G. Hawkins and Associates <br />WILLIAM G. HAWKINS <br />BARRY A. SULLIVAN <br />September 28, 1994 <br />Legal Assistants <br />MARY K. KOZLAK <br />RITA A. DANINGER <br />Ms. Mary M. Vaske <br />Finance Director <br />Lino Lakes City Hall <br />1189 Main Street <br />Lino Lakes, MN 55014 <br />Dear Mary: <br />SUITE 101 <br />299 COON RAPIDS BLVD. <br />COON RAPIDS, MINNESOTA 55433 <br />PHONE (612) 784-2998 <br />I am responding to your letter of September 26, 1994 regarding the surety bonds <br />for employees. I believe that Section 206 of the City Code should be amended to <br />provide for a blanket bond covering all of the individuals listed in Section 206.01. <br />In terms of the amount of the bond, it would vary with the position and the amount <br />of cash and negotiable securities that an individual is handling. <br />In reviewing the information you sent me, it seems that the formula developed by <br />the Municipal Finance Officers Association is a helpful guideline in determining the <br />City's exposure and the necessary bond size for covering City employees. You <br />should calculate the bond amount using this formula. <br />If you have any other questions, please contact me. <br />-'�ir`cerely, <br />Willliam G. Hawkins <br />WGH:mk <br />