(a) Council hereby authorizes and approves the procurement of a blanket bond from time to time from an duly authorized corporate surety covering any and all officers, clerks and employees of the City required to furnish a bond or bonds for the faithful performance of their respective duties, providing for coverage up to the amount of one thousand dollars ($1,000) for each such person, or any greater or lesser amount hereinafter provided for by ordinance. However, this section shall not apply to the Mayor, the Director of Finance and/or the Deputy Director of Finance, which officers shall continue to furnish individual bonds in the manner and in the amount provided in Sections 131.01(d), 133.01(c) and 133.06.
(Ord. 87-67. Passed 11-4-87.)
(b) The premium for the blanket bond referred to in subsection (a) hereof shall be paid by the City out of funds appropriated for such purpose.
(Ord. 70-11. Passed 2-16-70.)