§ 3.03. Surety bonds.

All City officers or employees receiving, disbursing, or responsible for City funds shall be bonded. The council may require any officer or employee to give a bond, conditioned upon the faithful and proper performance of the duties of office or employment, and approved by and in such amount as the council shall determine. All such bonds shall be corporate surety bonds and the premiums thereon shall be paid by the City. No such bond shall be issued for a term exceeding four (4) years. No bond required by this section shall be renewed upon its expiration or in the event of the reappointment of any officer or employee to a position for which a bond is required, but a new bond shall be furnished. The resignation, removal, or discharge of any officer or employee of the City shall not, nor shall the election or appointment of another to office or employment, exonerate such officer or employee or sureties from any liability incurred by them. Nothing in this section shall prevent the council from authorizing the furnishing of a blanket position bond to assure the honesty or faithful performance of any of its officers or employees. (Amended by General Municipal Election on November 2, 2010)