All officers of the Village whose duties involve the custody of public property or the handling of public funds, either by way of receipt or disbursement or both, shall before they enter upon the duties of their respective offices, file with the Village an official bond, in such form and amount as the Council shall direct and approve.
All official bonds shall be corporate surety bonds and the premiums thereon shall be paid by the Village. All bonds of officers or employees shall be filed with the Clerk, except that any bond pertaining solely to the Clerk shall be filed with the Treasurer.
(Char. eff. June 7, 1954)