(A)   Every officer, employee or agent of the city who receives, handles or has custody and control of more than $10,000 of city funds at any time shall, before assuming his or her duties as the officer, employee or agent, give bond, payable to the city, with corporate surety, in the amount as shall be determined by the City Council, and conditioned upon the faithful performance of his or her official duties, the safekeeping of the city funds and a true accounting to give of all city funds received or handled by him or her or coming within his or her custody, and payment thereof to the city; provided, that the bond of the City Clerk shall be in amount not less than $500,000; and provided further, that when two or more offices or positions for which bond is required are held by the same person, the bond for the person shall be an amount not less than the highest minimum amount required for any office or position.
   (B)   The City Council may adopt a system of blanket faithful performance and honesty bonding as an alternative to the individual bonds provided in division (A) of this section; provided, that the amounts as specified in division (A) above for the officers named therein shall remain the same as therein specified.
   (C)   The City Attorney shall approve all bonds required by this section with respect to their form and legality; and the premiums thereon shall be paid by the city. The City Council shall approve all bonds required by this section with respect to their sufficiency. All bonds required by this section shall be in the custody of the City Clerk.
(1973 Code, § 2-1)  (Ord. No. 1, passed 4-8-1867)
Charter reference:
   Official bonds, see Charter § 12.04
Editor’s note:
   The Charter includes many provisions regulating city administration which, in municipalities having less comprehensive charters, would be appropriate for ordinances and codification in this chapter. As to the powers and form of government of the city and a number of other general administrative provisions, reference should be made to the section analysis preceding the text of the Charter.
Statutory reference:
   Bonds, fines and forfeitures, see M.S. Chapter 574
   Municipalities generally, see M.S. Chapter 465
   Payment by city for official bonds and blanket position bonds in lieu of individual bonds, see M.S. § 418.18
   Political subdivisions generally, see M.S. Chapter 471