(a) The following persons shall be required to furnish a good and sufficient surety bond conditioned upon the faithful performance of their position in the respective amount set forth herein. The premium payable on any such bond shall be paid by the City.
Director of Finance | $150,000 |
Secretary of the Director of Finance | 75,000 |
Purchasing Director | 75,000 |
Payroll Clerk | 75,000 |
Assistant Secretary to Finance Director | 75,000 |
Mayor | 150,000 |
(b) A blanket bond of twenty-five thousand dollars ($25,000) shall cover all other City officers and employees except those specifically mentioned herein and as otherwise provided by law.
(c) The Director of Finance shall be authorized and directed to negotiate for the purchase of such bonds as herein required.