The Treasurer shall give bond in a sum as may be required by the City Council, which bond shall be an amount of money that is not less than three times the latest federal census population or any subsequent census figure used for motor fuel tax purposes, with sureties to be approved by the Council. The bond shall be conditioned upon the faithful performance by the Treasurer of the duties of office, and to indemnify the city for any loss due to any neglect of duty or wrongful act on the part of the Treasurer.
(1980 Code, § 4.013)