All finance officers, before entering upon the affirmation of office in the form required by the Constitution of this state, and the exceptions specifically mentioned in this section, shall each furnish an undertaking to the city in the sum of $50,000. Said bond shall be conditioned for the faithful discharge of the duties of their respective offices and to account for, pay over and deliver all money coming into their hands by virtue of their office, according to law. All such undertakings or bonds, after being approved, shall be filed according to law.
(Prior Code, § 1-4-2)