(A) Each officer and each employee who may be charged with the duty of handling any funds in the performance of his or her duties as authorized or directed by the provisions of this subchapter shall execute an official bond for the term of his or her office or employment before entering upon the duties of his or her office or employment before entering upon the duties of his or her office or employment or if the tenure is in determinate, then the bond shall be for a term of 1 year and each year thereafter so long as the employment continues.
(B) All bonds required shall be individual surety company public official bonds conditioned on faithful performance of duties. The penal amounts of the bonds shall be fixed by the Town Council and shall be approved by the President.
(C) All like bonds shall be filed and recorded in the office of the County Recorder as provided by statute.
(Ord. 85, passed 6-12-1971 (84-17))