(A) The officers of the village shall give bonds in the sums and within the time respectively stated in the sections of this code defining the powers and duties of the several officers, and departments of the village; and in each case, provided by law. In all cases not specifically provided for, the officers of the village shall give such bonds and within such time as the President and Board of Trustees may require, or as may be required by law. Should good cause exist in the judgment and discretion of the Board of Trustees any officer may be required, from time to time, to give additional bonds in such sum and within such time as the Board may by resolution direct.
(B) Whenever a surety bond to indemnify the village is required as a prerequisite to exercising the duties of any office or position, or to the issuance of a license or permit or the exercise of any special privilege, the surety on such bond shall be a corporation licensed and authorized to do business in this state as a surety company, in the absence of specific provision to the contrary by ordinance.
(C) Every officer of the village shall procure, as surety upon any bond the officer may be required to give, a responsible surety company or corporation licensed to do business in the state as a surety company.
(D) The bonds of all village officers shall be subject to the approval of the President and Board of Trustees. After the approval, as aforesaid, the Clerk shall endorse thereon the date thereof and file the same in his office except the bond of the Clerk, which shall be filed with the Treasurer.
(Ord. 75-15, passed 7-30-75)