(A) CITY TREASURER. The City Treasurer shall, before entering upon the duties of the office, give a corporate surety bond to the City in an amount not less than two hundred fifty thousand dollars ($250,000). The bond shall be conditioned on the Treasurer agreeing to faithfully and honestly collect, keep, and disburse all monies belonging to the City. The bond shall be filed with and kept by the Department of Administration.
(B) CITY NOTARIES. City officers and employees serving as notaries due to their job duties and responsibilities shall be bonded per the requirements of the State of Alaska.
(C) OTHER OFFICERS AND EMPLOYEES. Other city officers and employees who collect, have custody of, or disburse public monies, materials, supplies, or equipment shall be bonded on a case by case basis as determined by the City Manager and/or City Council.
(D) PREMIUMS ON BONDS. The premiums on all official bonds shall be paid by the City.
(Am. Ord. 2004-04, passed 3-9-04; Am. Ord. 2017-11, passed 12-12-17)