The Mayor of the city, before entering upon the duties of his or her office, shall execute a bond to said city in the penal sum of $3,000 with such sureties as the City Council shall approve, conditioned for the faithful performance of the duties of the office and the payment of all monies received by him or her according to law and the ordinances of said city, which bond shall be filed with the City Clerk.
(Prior Code, Chapter 4, Article 2, § 2)