(a) An official bond in the amount of ten thousand dollars ($10,000) shall be required of the Tax Commissioner and the premiums for such bond shall be paid by the Village.
(b) The bond after approval by the Mayor and Solicitor, shall be delivered to the Clerk-Treasurer of the Village, who shall immediately record it in a record provided for that purpose and file and carefully preserve it in his office, as required by Ohio R.C. 733.69 and 733.70.
(Ord. 1446. Passed 3-24-70.)