(A) Recorder’s bond. Before assuming the duties of his or her office, the Recorder-Treasurer shall execute and deliver to the Mayor a bond in a penal sum of not less than $25,000 and any additional amounts as the Council may find necessary. The bond shall be conditioned upon the Recorder-Treasurer faithfully performing the duties of his or her office and truthfully accounting for all money and other valuable property coming into his or her possession by virtue of his or her office.
(B) Sureties. Any bond required by this section shall be executed by two or more sureties, who shall be freeholders and residents of the city, having the qualifications of bail upon arrest. In lieu of these sureties, any bond required by this section may be executed by an indemnity insurance or surety company organized or licensed to transact business in this state.
(C) Approval; premiums. Each bond required by this section shall be subject to the approval of the Mayor acting by and with the advice and consent of the Council; and if the bonds are executed by a surety company, the premiums thereon shall be paid by the city in the same manner as other claims against the city are paid.
(Prior Code, § 31.01) (Ord. 719, passed 8-3-1959)