Separate official bonds pursuant to Section 266.01 shall be required in the amount of five thousand dollars ($5,000) each for those persons holding the positions of Mayor, Director of Finance and Police Chief. The furnishing of such bond by such officials shall be a prerequisite to their assuming office and performing the duties thereof. All other officers, clerks and employees of the Municipality shall be included in a blanket bond pursuant to Section 266.01 in the amount of five thousand dollars ($5,000). Such bond shall be of a type referred to in the trade as a blanket position bond.
(Ord. 2675. Passed 12-2-59.)