If an Executive Director is employed as authorized by Public Act 57 of 2018, § 205, being M.C.L.A. § 125.4205, the Director shall post bond in the sum of $5,000 as required by the section of the statute unless covered by a blanket bond covering city employees. The premium of the bond shall be deemed an operating expense of the Authority, payable from funds available to the Authority for operating expenses.
(Ord. 519, passed 5-23-2006; Am. Ord. passed 8-10-2021)