City of Hoboken, NJ Article II Bonds

[Adopted 1-7-1959]

§ 6-3 Execution of official bonds.

[Amended 11-4-1987 by Ord. No. V-140]

City officers shall execute official bonds in the penal amount herein set forth before they enter upon the discharge of the duties of their offices, and if any such officers shall neglect to execute the bonds required of him within 10 days after the date of his election or appointment, his office shall be declared vacant by the Council:

Officer	Amount of Bond
City Clerk	$10,000
Comptroller	$10,000
City Treasurer	$25,000
Water Registrar	$10,000
Collector of Revenue	$25,000

§ 6-4 Approval of bonds.

The bonds of the aforesaid officers shall be approved by the City Attorney and shall be executed with two or more sureties, conditioned as provided by ordinance of the City and the laws of the state. The sureties shall be residents and freeholders of the City of Hoboken and shall justify separately that they are respectively worth the sums to be stated in their respective justification, over and above all debts by them owing or incurred or for which their property is liable or encumbered at the time of justification and over and above all exemptions by law of their property from execution. The sums stated in such justifications on the bond of any such officer shall, in the aggregate amount be equal to double the penalty of such bond. The execution of such bond shall be acknowledged by the officer and his sureties before some person authorized to take acknowledgments of deeds, and a certificate of such acknowledgment shall be made thereon.

§ 6-5 Endorsement and certification.

The City Clerk shall also endorse and certify on each bond, before the same is filed with him, the action of the Council approving the same and the time of such approval.

§ 6-6 Annual renewal.

Each of the aforesaid officers shall renew his bond annually, and if he fails to renew it, his office shall be declared vacant by the Council.

§ 6-7 Death or insolvency.

In case of the death or insolvency of any of the sureties on the bond of any City officer, the Council shall require the officer who has given such bond to give a new bond, and if any such officer fails to furnish such new bond within five days from the date of such requirement, his office shall be declared vacant by the Council.

§ 6-8 Bond executed by a surety company.

Any of the aforesaid officers may, at his option, furnish a bond executed by a surety company authorized by law to transact business in the State of New Jersey. The premium for such bond shall be paid by such officer.