2145.02. Form and content of bond.

   The bond shall be approved as to form by the Director of Law and as to content by the Director of Finance.

   (a)   The fidelity bond, so called, may be combined with a broad form money and securities policy, so called, to protect against loss of cash and negotiable securities, other than due to official and employee dishonesty.

   (b)   The City may also purchase depositor's forgery and/or money order and counterfeit paper coverage.

   The coverage may be provided under a self-insured retention plan or competitively bid with insurers authorized to do business in the State of Ohio. When competitively bid, the City will utilize normal bid procedures in order to select the lowest and best bid.

(Ord. 32-84)

2145.03. Amount of the bond.

   The Director of Law and Director of Finance are hereby authorized to determine the amount of coverage of officials and employees necessary to fulfill the requirements of the City Charter and to properly protect against financial and physical asset losses.

(Ord. 32-84)

2145.04. Term of the bond.

   The term of the bond, if competitively bid with insurers shall be for a term not to exceed four (4) years with premiums prepaid or payable in installments.

(Ord. 32-84)