Before entering upon the duties of their respective offices, each councilmember and the mayor must be covered by an individual bond in the amount of $25,000, conditioned on the faithful performance of the duties of their respective offices.
(Sec. 6-2.1, R.O. 1978 (1983 Ed.)) (1990 Code, Ch. 5, Art. 1, § 5-1.1)