The treasurer shall give a bond conditioned upon the faithful performance of duties and to indemnify the city for any loss due to neglect of duty or wrongful act on his part, and the amount of such bond shall be not less than ten percent (10%) of the highest amount of taxes and special assessments received by the treasurer during any fiscal year in the preceding five (5) fiscal years nor less than one and one-half (11/2) times the largest amount which the council estimates will be in custody of the treasurer at any one time. Such bond shall be filed with the clerk, as required by statutes 1 . (1988 Code §5.202)
Notes
| 1 | 2. 65 ILCS 5/3.1-10-25. |