§ 250.01 BONDS.
   (a)   The following City officers and employees shall furnish bond to the City for the faithful performance of their respective duties in the following amounts:
      (1)   Director of Finance, twenty thousand dollars ($20,000.00);
      (2)   City Treasurer, twenty-five thousand dollars ($25,000.00); and
      (3)   All other City officers and employees shall each be covered by a blanket bond of five thousand dollars ($5,000.00).
   (b)   All bonds of the respective officers and of the employees provided in this section, and where so required, shall be signed by a surety company authorized to do business in the State. The premiums of such bonds shall be paid by the City. Such bonds shall be approved as to the correctness and form by the Director of Law, and shall be subject to the approval of the City Council.