The Water Board shall have power to fix and maintain a separate budget, and employ, fix the compensation of and discharge a manager and all employees of the system; provided, however, that the Water Board shall employ, fix the compensation of and discharge a joint city/Water Board employee only with the approval of the Council. The Chairman and Treasurer of the Water Board, upon their appointment and taking office, shall furnish and file with the Recorder, a bond in an amount to be set by the Water Board from time to time, the cost of such bond to be payable from revenues of the system and such bond to be payable to the city and conditioned as to the faithful performance of their respective duties as are fixed by the Water Board.(Ord. 1317, passed 6-11-01)