Compton Municipal Code § 2-23 Official Bonds

[1]

Editor's Note: For statutory provisions authorizing the City Council to require bonds from City Officials, see Gov. Code §§ 36518 and 36519.

[Added by Ord. #950, § 2801; Ord. #1545]

The following elective officers shall give a faithful performance bond payable to the City, and the condition of such bonds shall be that the surety will be liable for any loss to the City due to the failure of any official duty of the principal, whether of omission or commission, in the following amounts:

a. City Treasurer: $300,000.

b. City Clerk: $50,000.

[Added by Ord. #950, § 2801.1]

The City Manager and his staff, the City Controller and his staff, the City Attorney and his staff, subordinates of the City Treasurer, the City Engineer, and the Street Superintendent shall give a fidelity bond, in an amount not less than $5,000, payable to the City, and the condition of such bonds shall be that the surety will be liable for any loss to the City due to the failure of any official duty of the principal, whether of omission or commission.

[Added by Ord. #950, § 2801.2]

All officers and employees not covered by the provisions of this Chapter shall give an honesty bond in an amount not less than $2,500, payable to the City.

[Added by Ord. #950, § 2801.3]

Applications for official bonds shall be signed by the principal, and official bonds shall be signed by the surety. A surety shall be an organization authorized under the laws of the State to act as surety and to issue surety bonds for public officials and employees, and such bonds shall be joint and several.

[Added by Ord. #950, § 2801.4]

Premiums on official bonds shall be paid by the City.

[Added by Ord. #950, § 2801.5]

The City Manager is hereby authorized to place any or all of such officers and employees under one official bond.