A. Required: Elected officers of the city before taking office shall execute a bond with good and sufficient sureties payable to the city or shall be included within public employee blanket bonds, in the amount of not less than ten thousand dollars ($10,000.00), conditioned for the faithful performance of the duties of the respective officers and the payment of all monies received by such officer according to the law and the ordinances of Farmington City.
B. Approval: The bonds of council members shall be approved by the mayor, and the bond of the mayor shall be approved by the city council, at the first meeting of the city council in January following a municipal election. All bonds of elected officers shall be filed with the city recorder.
C. Premium Charge: The premium charge by a corporate surety for any official bond shall be paid by Farmington City.
D. Additional Bonds: The city council may at any time require further and additional bonds of any elected officers of the city. (Ord. 2012-10, 3-20-2012)