The Council may require bond from any officer or employee which shall be approved as to form by the City Attorney. No officer or employee of the City of whom a bond is required shall enter into the discharge of his official duties or of the duties which he is employed to discharge until his bond has been duly filed and approved. Such bond shall be in the penalties sufficient in the opinion of the City Council to secure the City against any loss and shall be made payable to the City of Weirton.