(a) Each person 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 provision of this Article shall execute an official bond for his or her term. The bonds required shall be individual surety company public official bonds continued on the faithful performance of duties and the penal amount of the bonds shall be fixed by Resolution of the Town Council, from year to year and if no Resolution be adopted, the amount to be fixed at One Thousand Dollars ($1,000.00), or the amount required by applicable state law.
(b) All monies received by or on account of said Department shall be paid over and delivered to the Clerk-Treasurer of the Town of Dyer to be accounted for and disbursed according to law. (Ord. No. 819, § 6, 5-9-72).
2 I.C., § 36-10-3-16, addresses bonds.