SECTION 10.02. OFFICIAL BONDS.

   All officers and employees of the City whose duty requires them to have custody or control of Municipal or other public monies or property, shall furnish a corporate surety bond, issued by a company authorized to do business in Ohio, to protect the City against loss due to their acts or omissions. The amount of the bond shall be determined by Council and the premium shall be paid from the funds of the City. All such bonds shall be filed with the Clerk of Council, who shall report thereon to Council.