159.03  BONDS.
   (a)    Officials.  Effective January 1, 1976, the following officers shall furnish an official bond for the faithful performance of the duties of their office in the amounts indicated: 
 
Treasurer
$50,000
Tax Commissioner
25,000
Auditor
25,000
Mayor
25,000
Law Director
25,000
   Each bond except that of the Auditor, upon its approval, shall be delivered to the Auditor, who shall immediately record it in a record provided for that purpose and file and carefully preserve it in his office. The bond of the Auditor shall be delivered to the Treasurer who shall record and preserve it in like manner.
   (b)    Employees.  All other officers and employees shall be included in a public employee blanket bond or bonds indemnifying the City against loss due to the nonfaithful performance and/or dishonest acts of personnel included in such bonds. The blanket bond or bonds shall be purchased from a surety company licensed to issue such bonds in the State and shall provide coverage of two thousand five hundred dollars ($2,500) for each officer and employee except for the following on whom total coverage shall be in the following amounts:
 
Deputy Treasurer
$15,000
Bond Retirement Officer
10,000
Clerks, Tax Department
5,000
   The bonds shall be kept in the custody of the Auditor. 
   (c)    The Auditor is hereby authorized to draw and the Treasurer to pay warrants for the foregoing purpose out of the General Fund.
   (d)    As of the date of furnishing the foregoing bonds this section shall supersede any ordinances heretofore passed by Council pertaining to the bonding of officers and employees of the City. (Ord. 30-1976. Passed 7-13-76.)