Sarasota News Leader

11/16/2012

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BOND DEAL CLOSE City Auditor and Clerk Pam Nadalini and City Commissioner Paul Caragiulo listen to remarks by City Attorney Robert Fournier. Photo by Norman Schimmel CITY'S AUDITOR AND CLERK HAS FAILED TO COMPLY WITH THE CITY CHARTER'S BOND STIPULATION SINCE SHE WAS APPOINTED TO THE POST TWO YEARS AGO By Stan Zimmerman City Editor Since she accepted the position of city auditor and clerk in the City of Sarasota two years ago, Pamela Nadalini has not been able to ob- tain the bond required for the job by the city's charter. The Sarasota News Leader learned this week Nadalini has secured one quote from a bond- ing company, although two sources say the rates are roughly 20 times the amount paid for the same coverage for the other city officials required to have bonds. City Human Resources Director Kurt Hovert- er said he is "shopping" for a lower-cost bond with other venders, and he said he might "save a few thousand dollars" over the first figure he received. Bond costs for the city manager and city fi- nance director run in the $500 to $700 range annually for $100,000 of coverage. The "20-times figure" could push the premium for Nadalini's bond to $10,000 or more. On Monday, Nov. 29, the City Commission is expected to touch briefly on bond limits in general. Each year the commission must set the level of coverage the members wish

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