(A) Every officer, employee or agent of the town who handles or has custody of more than $100 of the town’s funds at any time shall, before assuming his or her duties as such, be required to enter into bond with good sureties, in an amount sufficient to protect the town, payable to the town, and conditioned upon the faithful performance of his or her duties and a true accounting for all funds of the town which may come into his or her hands, custody or control, which bond shall be approved by the Mayor and Town Board and deposited with the Town Clerk, except that such bond of any employee may, in the discretion of the Mayor and Town Board, be conditioned only upon a true accounting for funds of the town; provided, that the bond of the Town Clerk, in whatever capacity he or she is bonded, shall be deposited in the office of the Mayor.
(B) The town may adopt a system or blanket faithful performance or honesty bonding as an alternative to individual bonds. When such a system is adopted, statutory requirements of individual bonds, except as to the Treasurer and Tax Collector, shall not apply to any officer or employee covered by the blanket bond.
(C) All official bonds shall be approved as to form by the Town Attorney.
(1991 Code, § 31.01)