All official bonds required of officers or employees of the City shall be executed by accredited and reliable surety companies authorized to engage in the bonding business in the State, subject to the approval of the Director of Finance as to the financial responsibility of the company, and the approval of the Director of Law as to legal form and sufficiency of the bond. However, the bond of the Director of Finance and of the Director of Law shall also be approved by the Mayor. The premiums on all such bonds shall be paid by the City from the appropriate funds provided for such purpose.
(Ord. No. 111-49. Passed 2-14-49)