County property insurance coverage and amounts

A. The director of finance is authorized to procure insurance to cover damage or loss from fire and other perils or theft of the following types of property which may be owned by or in the care, custody or control of the County: 1. Money, securities and similar property; 2. Buildings, structures, building contents and other personal property; 3. Vehicles and other equipment; 4. Other property owned by the County or in the County's care, custody or control. B. Amount of property insurance: the director of finance is authorized to purchase property insurance in the following amounts: 1. For automobiles, tractors and similar equipment, the actual cash value of such automobiles, tractors and related equipment, unless replacement cost coverage is available at such a price that procuring such coverage is deemed to be prudent. 2. The director of finance may procure insurance for other property in an amount equal to the replacement cost of such property. 3. Insurance for the loss of property due to acts of employee dishonesty may be purchased by the director of finance in an amount determined to be appropriate to insure the risks and exposures from such type of loss. (Ord. 1493 § 1 (part), 1985)