SEC. 21.12. APPROVAL OF SURETIES.

The Controller shall approve the sufficiency of assets and qualifications of all sureties submitting any bond or security which is required under the provisions of Section 21.10 and 21.11 of this Chapter. The Controller may delegate to the Risk Manager the authority to approve the sufficiency of assets and qualifications of sureties for such types or classes of agreements requiring surety or security bonds and in such amounts as the Controller deems appropriate.

(Added by Ord. 156-99, File No. 990743, App. 6/2/99; amended by Ord. 165-13, File No. 130540, App. 8/2/2013, Eff. 9/1/2013)