Sec. 5.  Bonds or insurance.
   The City Council may by ordinance require official bonds of officers or employees of the city and fix the amount thereof.  Cost of said bonds will be paid by the city.  In lieu of such bonds, or in addition thereto, the City Council may purchase fidelity insurance coverage. 
(Sp. Elec. 12/7/93; Sp. Elec. 11/6/07)