Signed into law on May 5 by Gov. Haley Barbour, HB 1533 established the Sand Creek Wastewater Authority. Members of the board of directors must each post a minimum $10,000 public official surety bond. The treasurer for the board of directors must post a $50,000 Mississippi surety bond. By filing these fidelity bonds, members of the board of directors pledge to fulfill their duties faithfully and uphold all responsibilities required for their respective positions.
HB 1533 — known as the “Sand Creek Wastewater Authority Act” — states the following surety bond requirements.
“(2) The treasurer shall give bond in the sum of not more than Fifty Thousand Dollars ($50,000.00) as set by the board of directors, and each director may be required to give bond in the sum of not less than Ten Thousand Dollars ($10,000.00), with sureties qualified to do business in this state, and the premiums on the bonds shall be an expense of the authority. Each such bond shall be payable to the State of Mississippi; the condition of each such bond shall be that the treasurer or director will faithfully perform all duties of his office and account for all money or other assets which shall come into his custody as treasurer or director of the authority.”
If you need a public official bond in the state of Mississippi, you can contact a surety expert online or by phone at 1 (800) 308-4358.