(A) Amount. Bonds of village officers required under 65 ILCS 5/3.1-10-30 shall be executed in at least the following penal sums:
(1) Mayor: $10,000;
(2) Village Clerk: $10,000;
(3) Village Treasurer: $500,000;
(4) Utility Control Clerk: $20,000.
(B) Premium payment by village. The surety bonds required by law shall be paid by the village.
(C) Surety. The Village Board shall not receive or approve any bond or security whereon the name of the Village Board, any one of the Trustees or any elected or appointed officer of the village appear as bondsman or security. If, by mistake, a bond containing the name of such officer is approved by the Village Board or, if any bondsman, after becoming such, is elected or appointed to any village office, this section shall not act as a release of any such obligation incurred.
(Prior Code, § 2-1403) (Ord. 1801, passed 12-18-2017)