The Chief Financial Officer, with the approval of the Mayor, shall establish a schedule of fidelity bonds, either on an individual or blanket basis, for all officers, agents, and employees of the Metro Government. Such bond or bonds shall be a covenant to the Metro Government from the principal and surety that the principal will faithfully discharge his duties and shall provide that the bond be limited in a definite penal sum to be determined and fixed in such amount as to adequately protect Metro Government from any loss of any nature whatsoever by reason of the acts or omissions of such officers, agents, and employees. The Chief Financial Officer shall effect the execution of such bonds and see that they are maintained in full force and effect at all times. All bonds shall be lodged with the Chief Financial Officer. The premiums on all bonds required to be executed hereunder shall be paid by the Metro Government and charged to the respective department or agency.
(Lou. Metro Ord. No. 64-2004, approved 6-3-2004)