(A) Requirements. Any surety bond referred to in any city code provision is required to be a bond of a surety company duly authorized to do business in this state; provided, however, that a certified check for the full amount of the bid, made out to the city, may be substituted for a surety bond. All bonds shall run to the city; shall be conditioned upon the observance of all city code provisions and regulations relating to the activity for which a bond is required, as well as upon the conditions set out in the section requiring a bond, and shall cover the principal and all persons acting under him or her; provided two personal sureties may be accepted if each surety attaches to the bond his or her affidavit showing ownership of unencumbered real estate in Yellow Medicine or Chippewa County worth twice the amount of the bond, and additional proof of value as will satisfy the Council.
(B) Filing and approval. All the bonds shall be ineffective until filed with the City Clerk; except that the bond of the City Clerk shall be filed with the Mayor. Neither the City Clerk nor the Mayor shall accept any bond for filing until it has been approved by the City Attorney.
(2003 Code, § 2.75)