Separate official bonds pursuant to Section 266.01 shall be required in the amount of fifty thousand dollars ($50,000) each for those persons holding the position of Mayor, and the Director of Finance. The furnishing of such bonds by such officials, or by the City on their behalf shall be a prerequisite to their assuming office and performing the duties thereof. All other officers, clerks or employees of the City shall be included in a blanket bond, pursuant to Section 266.01, in the minimum amount of fifty thousand dollars ($50,000) and such bond shall be of a type referred to in the trade as a blanket surety bond.
(Ord. 2011-043. Passed 4-4-11.)