Prior to the entering upon the duties of Village Trustee, Chief of Police, police officer, positions on the Planning and Zoning Commission and employment in the Street Department and Maintenance Department, all such persons shall execute a bond with security to be approved by the Corporate Authorities made payable to the village in amounts of not less than $3,000 per person. The bond shall be conditioned upon the faithful performance of the duties of each office or position and the payment of all money received by each officer or person according to the laws of the state and the ordinances of the village. The obligation of the sureties shall not extend to any loss sustained by the insolvency, failure or closing of any bank organized and existing either under the laws of the state or the United States wherein the person has placed funds in his custody, providing the bank has been approved by the Corporate Authorities as a depositary for said funds. This bond shall be a part of the blanket bond of the village. The village shall pay all premiums of said bond. The bond shall be filed with the Village Clerk.
(Ord. 217, passed 5-21-79)