Notwithstanding the provisions of any other ordinance requiring an official bond to be conditioned substantially to the effect that an officer, clerk or employee of the City will faithfully perform his/her duties, it shall be permissible in lieu thereof, to procure a blanket bond or bonds from any duly authorized corporate surety, covering officers, clerks and employees of the City, such bond or bonds to indemnify against losses:
(a) Through failure of the officers, clerks and employees covered thereunder to faithfully perform their duties or to properly account for all moneys or property received by virtue of their positions or employments, or
(b) Through fraudulent or dishonest acts committed by the officers, clerks and employees covered thereunder.
The authority herein conferred shall not extend to the office or position of any officer, clerk or employee required by controlling State law or City Charter provision to execute or file an individual official bond to qualify for office or employment.
Any such blanket bond shall be approved as to its form by the Law Director and as to sufficiency of surety by Council or the officer or governing body authorized to require it. The premium of any such blanket bond shall be paid by the City.
(Ord. 2011-043. Passed 4-4-11.)