Before entering upon the duties of his or her office, the Clerk/Treasurer shall execute a bond, the premium for which shall be paid by the town, with surety approved by the Council with a minimum penalty of $20,000, conditioned upon the faithful performance of the duties of his or her office for the proper collection of and accounting for all moneys which shall come into his or her hands, or which it shall be his or her duty to collect, and for the payment of all moneys by him or her, on the proper order of the Council, to those entitled to receive such payment.
(1997 Code, § 2-222)