(A) All officers, officials, and employees of the city who handle public funds in the execution of their duties shall give good and sufficient bond to the city for the faithful and honest performance of their duties and as security for all money coming into that person's hands or under that person's control. The bond amount shall be based upon the maximum amount of public funds the officer, official, or employee handles at any given time during the fiscal year cycle. The city shall pay the cost of the bond.
(B) The city may purchase a blanket or umbrella bond covering all officers, officials, and employees of the city required to be bonded by subpart (A) of this section.
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Statutory reference:
Bond requirements, see KRS 65.067