The municipal judge shall, before he enters the duties of office, if no corporate surety bond covering all municipal officials exists, execute a surety bond to the city in the amount of five thousand dollars conditioned upon the faithful performance of his duties and the paying over to the city of all fines, forfeited bonds and other money which comes into his hands by virtue of his office. The municipal judge shall take the oath of office as required in Section 3-10-2 NMSA, 1978. (Amended during 1992 codification: prior code § 5-2-3)