BC 2012 11 29 Special Meeting - Laserfiche WebLink

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November 29, 2012 (Special Meeting) Page 1311 goes. That's the stupid comment is not one that is a part of anybody here and I just wanted to kind of clarify that. Commissioners, you have specific, individual questions; additional questions that you have for Mr. Small? I open it up to you but you need to - go ahead. Carruth: Just a couple - as far as reiterating what Liz said too - I mean, you're elected by the citizens of Cabarrus County and you're capable of doing the job. And I think just that when we look at it this board has that responsibility just like we do with the school system questions when they come to us for spending - you know, stating requests - and we approve money for them or when DSS comes to us even though they have their own board that is appointed, that we - we're kind of in that position. This unit is a sub- unit of state government and this kind of checks and balances our whole society has, but I guess the two questions I had was that - do we have the reasons why the bond application was denied by our underwriter and then were the reasons it was denied - the reasons, you have those reasons with those same things - were same those disclosures made to the new,. the Western, (inaudible) . Cause what I'm seeing here is that we have the responsibility that - if we just come ask you questions, if something comes back and they say well ya'll should have asked these questions. I'm not prepared to write out a check for $10,000 and so I want to make sure before I vote that we - what was the reason why one was denied and the other was accepted, because I'm in the insurance industry and I (inaudible) there's not a lot of difference between bonding that goes on. It's a service that's provided by insurance companies, it's a way of financing risk, and I'd just like to know that. I think that probably everybody on the board would like to know that, what particular reasons were given why the bond was not approved. And I know that all this may dig into some personal stuff, I don't mean to do that, it's just that again, we have to - I mean if it's serious enough where the clerk can lose her job if she doesn't record the votes right then it's a pretty serious deal here, you know. Small: Well, well if you look at the application for these bonds, they are very simple; they just request some very basic information. I think Mr. Koch is probably right with regard to the application, you're obviously dealing with an insurance company here on a county level that deals with county government or some other type of larger entities. And as an individual applicant, they probably didn't want to ensure someone who wasn't part of their usual clientele. Poole: Did you get notice - did you as the applicant - get notice as to why the bond that the county went after was denied? Small: No, as I explained earlier, I received noticed from Mr. Downs there on Thursday, November 15 that I (inaudible) bond. Measmer: So you received no communication from our company that we- Small: From the county bonding? Absolutely not. That was handled here by Mr. Harris. White: Did you look into why they didn't accept your application for bond? Small: No, I did not. White: Did you ask them? Small: No, I did not, I did not have the time to do that, Mr. White, as Ms. Poole pointed out, we were certainly working under a deadline from November 15 until today - so things had to happen pretty quickly. White: Can we see the application made for Penn and the application made for Western? Do you have them - do we have that information to look at? Small: I don't have an application for Western, Mr. White. Harris: I have one for Penn National. White: Okay. Can you get us the one for Western? Small: That was all done over the telephone, Mr. White. White: And Western - can you ask Western to send us a copy of whatever information they have so we can compare to better understand what's going on? Small: Mr. White, I suppose I could, my recollection is that it was just basic information: name, address, telephone number - that kind of information. Measmer: Your entire application was handled over the phone? No - there was no written documents - all of it was handled through telephone communication? Small: Yes. White: So there's nothing that you signed to Western saying that everything in here is true and accurate and I'm giving you a full disclosure of my background information or whatever information that ya'11 need of me? Small: Not that I recall. Burrage: Was that with an insurance agent or- Small: Yes. Burrage: Okay. And then he went through Western. Small: Yes. White: Can that insurance agent get us the information to understand, I mean, I'm - okay. Poole: Was it a local insurance agent? Small: Yes. Poole: I would say, I (inaudible) to piggyback off of that, that the thing is the way it's written is that we have, we have to make - and I understand