Ventura Municipal Code Ch. 2.520 Official Bonds

This chapter is adopted pursuant to the provisions of Section 606 of the City Charter and Section 1481 of the Government Code for the purpose of setting forth the form and amount of the official bonds of city officials and/or employees required by the Charter or this code. (Ord. No. 2003-003, § 3, 4-28-03)

In lieu of individual official bonds payable to the city that would otherwise have to be posted by or on behalf of particular city officials or employees pursuant to the City Charter or this code on condition that the official or employee truly and faithfully perform all duties required of them by law, the city manager or their designee shall obtain, and at all times maintain in full force and effect, a master official bond or insurance policy in the face amount of $1,000,000, that sets forth an equivalent undertaking on behalf of all city officials and employees. The master official bond or insurance policy shall be issued by a responsible corporate surety or insurance company, shall be in a form approved by the city attorney, and shall be filed in the office of the city clerk. (Ord. No. 2003-003, § 3, 4-28-03)