A.
Every officer or employee who is entrusted with the receipt, custody
or expenditure of moneys shall be bonded in such manner and amount
as shall protect the City against financial loss due to dishonest
or negligent conduct.
B.
Every officer or employee who is required by law to give bond shall
execute it with sufficient surety and deliver it to the City Clerk
before entering upon the duties of his or her office or employment.
The Clerk shall deliver his or her bond to the Treasurer.
C.
The office or position of any officer or employee who shall neglect
to execute and deliver his or her bond as herein required, within
30 days after due notification of the obligation to do so, may be
declared vacant by the Council on recommendation of the Mayor.
D.
Bonds may be individual, schedule or blanket. They shall be secured
by a corporate surety authorized to do business in this state and
shall be approved by the City Attorney for legal form and sufficiency.
All premiums shall be paid by the City.
Every officer or employee shall, upon termination, deliver forthwith
to his successors or, if there is no successor, to the Business Administrator,
all moneys, papers, books, memoranda, accounts and data pertaining
to his office.
Every officer and employee whose compensation is established
on a full-time basis shall devote his entire time during business
hours to the duties of his office.
