Surety bonds shall be provided to the city by the following officers and employees prior to assuming office or employment, and shall be maintained at all times during their tenure. The bonds shall be approved by the city attorney, and the premium on such bonds shall be paid by the city. The bonds required shall be as follows:
A. The city clerk in an amount not less than twenty five thousand dollars ($25,000.00).
B. The city treasurer in the amount not less than one hundred thirty five thousand dollars ($135,000.00).
C. Deputy city treasurer in the amount not less than twenty five thousand dollars ($25,000.00).
D. In addition to the above, a blanket surety bond shall be purchased by risk management for coverage of all city employees in an amount not less than one million dollars ($1,000,000.00). (1962 Code § 2-6.501)