SEC. 12.04. OFFICIAL BONDS.
   All officers or employees of the City as may be provided for by ordinance, shall each before entering upon the duties of his respective office or employment, give a corporate surety bond to the City in such form and in such amount as may be fixed by the Council as security for the faithful performance of his official duties and the safekeeping of the public funds.
   Such bonds may either be individual or blanket bonds in the discretion of the Council. They shall be approved by the Council, and approved as to form by the legal counsel, and filed with the person designated by the Council.
   The provisions of the laws of the State relating to official bonds not inconsistent with this Charter shall be complied with. The premium on such bonds shall be paid by the City.