The Treasurer shall give bond conditioned upon the faithful performance of his or her duties and to indemnify the city for any loss due to neglect of duty or wrongful act on his or her part; and the amount of such bond shall not be less than 10% of the highest amount of taxes and special assessments received by the Treasurer during any fiscal year in the preceding five fiscal years, nor less than one and one-half times the largest amount which the Council estimates will be in his or her custody at any one time, nor less than three times the number of residents of the city, as determined by the last federal census. Such bond shall be filed with the Clerk as required by statute.
(Prior Code, § 1-2-79)
Statutory reference:
Related provisions, see 65 ILCS 5/3.1-10-45