Before assuming the position, the Administrator shall qualify for and obtain a fidelity bond in the amount of one hundred thousand dollars ($100,000), conditioned upon the faithful performance of his duties, with an insurance corporation satisfactory to Council and licensed to do business in the State as surety. Such bond shall be filed with the Fiscal Officer after being approved by Council. The cost of such bond shall be borne by the Village.
(Ord. 87-105. Passed 3-2-87.)