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Todd Fire Department Insurance Lapsed

jrscott295

Posted 4:21 am, 08/16/2017

http://www.wataugademocrat....16a47.html

Here's the latest on the situation. It is good they finally had the fire chief resign.

jack rip her

Posted 8:33 pm, 08/15/2017

I would have to believe if the fire club didnt pay the insurance bill they have not been paying the bank payments. I did a little title search and saw about 1 million in debt for the fire club. I cant believe the banks would loan this kind of money to this small a department.

aFicIoNadoS

Posted 8:22 pm, 08/15/2017

Wait, looks like there was an investigation, by Watauga and it was found to have no legal wrong doing. Actually, it looks more like they called the SBI and got them involved. I remember this now, it was an election year, when Nathan was running for DA.

http://www.wataugademocrat....d5386.html

Buchanan 2018

Posted 8:20 pm, 08/15/2017

Good point

aFicIoNadoS

Posted 8:17 pm, 08/15/2017

I don't believe either sheriff's departments investigated. I believe one or both counties did audit the frat house, but they didn't press for charges. At the time, Nathan Miller was a county commissioner in watauga and was planning to run for DA. He was going around trying to buy fireman votes.

Buchanan 2018

Posted 8:01 pm, 08/15/2017

Maybe because he resides in Ashe Co ??

jack rip her

Posted 7:57 pm, 08/15/2017

Todd fire club is in Watauga county. The Ashe county sheriffs department has no jurisdiction in Watauga county. The investigation was done by Watauga and was obviously flawed to put it nicely.

Buchanan 2018

Posted 7:47 pm, 08/15/2017

Actually you are right for once Jack. There WAS a sheriff's Dept investigation of the Todd FD under JW's watch and nothing was done. The Good Ole Boys strike again

jack rip her

Posted 7:36 pm, 08/15/2017

The boards of mouth breathers didnt go far enough. They should require the entire board be replaced along with Welch. They should have demanded immediate payment of the money from Welch. Lets face it people there were criminal offenses that have taken place at this fire club.

Nancy Boi

Posted 6:41 pm, 08/15/2017

Welch should've stepped down in 2014 when the initial mess began.

Mr.Clodhopper

Posted 6:27 pm, 08/15/2017

Mr.Clodhopper

Posted 6:17 pm, 08/15/2017

And the beat goes on......While loose lips sink ships...

onlyinashe

Posted 6:52 am, 08/15/2017

Better to remain silent and be considered an idiot than to speak up and confirm it.

Mr.Clodhopper

Posted 10:11 pm, 08/14/2017

I'm going to remain silent on this entire subject...

Joseph T.

Posted 9:57 pm, 08/14/2017

The first thing there's a difference between being self insured and post a bond but I guess you don't understand base on your post

Fairplay

Posted 9:54 pm, 08/14/2017

No Joe T., I do not know a lot about bonds. So I called a banker in Charlotte that does. He said IBM at one time was self insuring with bonds. But they had so many assets tied up and the fees were so expensive they gave it up. Also, a bond for someone self insuring is not the same as a surety bond that you would post for performance or to guarantee an action. But if you know so much about bonds, educate us and tell us what an organization like Todd VFD would have to do to be self insuring. And remember, their fire trucks are all financed, so they cannot use them as collateral.

aFicIoNadoS

Posted 9:46 pm, 08/14/2017

aFicIoNadoS

Posted 9:45 pm, 08/14/2017

Joseph T.

Posted 9:41 pm, 08/14/2017

I see you don't know about bonds either.

Fairplay

Posted 8:52 pm, 08/14/2017

JoeT. To get a $5 million dollar bond, toy would have to have $5 million $500,000 dollars worth of unencumbered assets. You would pledge those assets to the bonding company, and could not dispose of them, or use them as collateral or make any kind of change to the assets. Then there is the bonding companies fees.All of this is to insure that you have the money to pay a judgement against you or a loss of any kind. So yes, you are correct. Technically, you do not need insurance. But that is sure a long and picayune road you traveled to say someone was wrong.

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