(A) It shall be the duty of said Board of Managers, as soon as may be convenient after appointment, to meet and organize by selection of one of their members to be President, and another of their members to be Clerk of such Board, and to elect a Treasurer of such Board, who may or may not be a member of the same, and such other officers as such Board as may deem advisable.
(B) The Treasurer shall, before entering upon his or her duty as such, execute a bond to the people of the state for the use of the Board of Managers in a penal sum of not less than double the value of money or funds coming into his or her hands as such Treasurer, conditioned for the faithful performance of his or her duty and for the faithful accounting for all money or funds which, by virtue of his or her office, come into his or her hands, which bond shall be presented to and approved by the City Council, to be approved and preserved in the same manner as is the bond of the Treasurer of the city.
(2000 Code, § 92.17) (Ord. 859, passed 1-11-1977)