Before entering upon the duties of their respective offices, all officers, except Aldermen, shall execute a bond with security, to be approved by the City Council. The bond shall be payable to the city in whatever penal sum may be directed by statute or resolution, conditioned upon the faithful performance of the duties of the office and the payment of all money received by the officer, according to law and also the ordinances of the city. These bonds shall be filed with the City Clerk, except the bond of the Clerk, which shall be filed with the City Treasurer.
(1992 Code, § 31.02)