Before assuming the duties of the position, the Administrator shall qualify for and obtain a fidelity bond in an amount to be specified by the Village President and Village Board, conditioned upon the faithful and proper performance of his duties, with an insurance corporation satisfactory to the Village President and Village Board and licensed to do business in the State of Illinois as surety. Such bond shall be filed with the Village Clerk after being approved by the Village President and Village Board. The cost of such bond shall be borne by the village.
(Ord. 87-17, passed 12-9-87)