Before entering upon the duties of his or her office, the City Treasurer shall execute a bond in a sum as may be required by the City Council, but the bond shall not be less than three times the latest federal census population or any subsequent census figure used for motor fuel tax purposes, and not less than the amount of money in the city treasury, in accordance with ILCS Ch. 65, Act 5, § 3.1-10-30, conditioned upon the faithful performance of the duties of his or her office, and not less than $500,000.
(1986 Code, § 2.12.020)