A. Fidelity bonds and theft or crime insurance: The city shall have in place for each municipal officer prior to assuming office, a bond or insurance in accordance with Utah Code 10-3-831 or successor provisions.
1. Municipal Officer means:
a. The Mayor.
b. Each member of the City Council.
c. The City Treasurer.
d. Anyone for whom the City Council determines a general fidelity or public employee blanket bond or theft, or crime insurance should be acquired.
2. Amount of the Bonds.
a. Except as provided in Subsection (2)(b), the City Council shall prescribe the amount of a general fidelity bond or theft or crime insurance to be acquired for the municipal officer in accordance with Utah Code 10-3-831or successor provisions.
b. Before the City Treasurer may discharge the duties of the treasurer’s office, the City shall have in place a bond or theft or crime insurance covering the Treasurer in an amount not less than the amount the State Money Management Council, created in Utah Code § 51-7-16, prescribes.
B. Blanket Bond or Insurance: Any bond or insurance required by law or approved by the city council may be provided and the obligation satisfied by the city obtaining a public employee blanket bond, through an insurance contract, or by another legally identified and authorized method of insuring the city’s interests.
C. Cost of Bond or Insurance: The premium for any bond or insurance contract obtained pursuant to this section shall be paid by the city.
D. The city recorder shall file and maintain each fidelity bond acquired under this section. (Ord. 20-44, 12-2-2020)