163.02 BONDING OF MUNICIPAL EMPLOYEES.

(a) The City shall carry a crime insurance policy providing blanket coverage for failure of an employee to faithfully perform his or her duties as prescribed by law.

(b) The Mayor, Finance Director, Law Director shall be covered by individual faithful performance bonds. The Mayor, Law Director and Finance Director shall post individual Faithful Performance Bonds for faithful performance of their duties in the amount of one hundred thousand dollars ($100,000) per bond.

(c) The expense of all bonds herein required shall be paid by the City by the Director of Finance from and out of the proper funds to which each bond is chargeable.

(Ord. 06-39. Passed 2-15-06.)

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