Manhattan Beach Municipal Code Ch. 2.24 Official Bonds

Pursuant to the requirements of Section 36518 of the Government Code of the State, the City Clerk, the City Treasurer and the Director of Finance, before entering upon the duties of their respective offices, shall each execute a bond. The penal sum of such respective bonds shall be as follows:

A. The official bond of the City Clerk shall be in the penal sum or amount of Ten Thousand and no/100ths ($10,000.00) Dollars.

B. The official bond of the City Treasurer shall be in the penal sum or amount of Fifty Thousand and no/100ths ($50,000.00) Dollars.

C. The official bond of the Director of Finance shall be in the penal sum or amount of Fifty Thousand and no/100ths ($50,000.00) Dollars.

(§ 1, Ord. 437, as amended by § 1, Ord. 778, as amended by § 1, Ord. 1126, eff. September 5, 1968)

Each of the bonds required by this chapter shall be joint and several in form and shall be signed by the respective principals and by a corporate surety. The surety must be authorized as provided by law to transact a general surety business in the State, and each of the bonds must be conditioned as provided by law. The bonds shall be subject to the approval of the Council as to provisions and sufficiency of the surety and of the City Attorney as to form.

(§ 2, Ord. 437)

The bond of the City Treasurer shall be filed with the City Clerk, and the bonds of the City Clerk and the Director of Finance shall be filed with the Mayor.

(§ 3, Ord. 437, as amended by § 2, Ord. 778)

The bonds of all officers and employees not enumerated in Section 2.24.010 of this chapter and contractors with the City shall be for such penal sums or amounts and shall contain provisions as may be required by law. In the event the penal sums or amounts are not prescribed by law, the penal sums or amounts shall be determined by the Council from time to time by resolution. Excepting as provided in Section 2.24.030 of this chapter, all bonds shall be filed with the City Clerk.

(§ 4, Ord. 437)