The bonds to be given by the City officials hereinafter named shall be in the respective penalties hereby prescribed and specified in the schedule set forth in § 18-2.
The schedule of bond penalties shall be as follows:
|
Officials
|
Penalty of Bond
| |
|---|---|---|
|
Department of Audit and Control
| ||
|
City Comptroller
|
$25,000.00
| |
|
First Deputy Comptroller
|
$5,000.00
| |
|
Special Deputy Comptroller
|
$5,000.00
| |
|
Auditor
|
$10,000.00
| |
|
Department of Buildings
| ||
|
Commissioner
|
$5,000.00
| |
|
Deputy Commissioner
|
$5,000.00
| |
|
Elevator Inspector
|
$2,000.00
| |
|
Center Market
| ||
|
Superintendent
|
$3,000.00
| |
|
Foreman
|
$3,000.00
| |
|
City Treasurer
| ||
|
City Treasurer
|
$50,000.00
| |
|
Deputy Treasurer
|
$10,000.00
| |
|
Cashier and Chief Accountant
|
$10,000.00
| |
|
Assistant Cashier and Chief Accountant
|
$10,000.00
| |
|
Pay Clerk
|
$5,000.00
| |
|
Chief Assessment Clerk
|
$5,000.00
| |
|
Parking Meter Custodian
|
$5,000.00
| |
|
General Clerk
|
$5,000.00
| |
|
Warrant Clerk
|
$5,000.00
| |
|
Temporary Clerk
|
$5,000.00
| |
|
Department of Civil Service
| ||
|
Clerk
|
$1,000.00
| |
|
Board of Contract and Supply
| ||
|
Secretary
|
$10,000.00
| |
|
Board of Education
| ||
|
Assistant Superintendent of Schools
|
$7,500.00
| |
|
Bureau of Engineering
| ||
|
City Engineer
|
$5,000.00
| |
|
Deputy Engineer
|
$2,500.00
| |
|
Leveler
|
$1,000.00
| |
|
Executive
| ||
|
Administrative Assistant
|
$1,000.00
| |
|
License Clerk
|
$1,000.00
| |
|
Department of Fire
| ||
|
Commissioner
|
$5,000.00
| |
|
Municipal Golf Course
| ||
|
Superintendent
|
$10,000.00
| |
|
Laborer
|
$5,000.00
| |
|
Department of Health
| ||
|
Commissioner
|
$2,500.00
| |
|
Department of Law
| ||
|
Corporation Counsel
|
$5,000.00
| |
|
Assistant Corporation Counsel
|
$2,000.00
| |
|
Department of Legislation
| ||
|
City Clerk
|
$5,000.00
| |
|
Deputy Clerk
|
$2,500.00
| |
|
Secretary
|
$1,000.00
| |
|
Filing Clerk and Typist
|
$1,000.00
| |
|
Bureau of Parks
| ||
|
Superintendent
|
$5,000.00
| |
|
Deputy Superintendent
|
$5,000.00
| |
|
Department of Police
| ||
|
Commissioner
|
$5,000.00
| |
|
Chief
|
$5,000.00
| |
|
Police Court
| ||
|
Clerk
|
$5,000.00
| |
|
Deputy Clerk
|
$5,000.00
| |
|
Stenographer
|
$5,000.00
| |
|
Department of Public Works
| ||
|
Commissioner
|
$10,000.00
| |
|
Deputy Commissioner
|
$5,000.00
| |
|
Auto Operator
|
$5,000.00
| |
|
Secretary
|
$2,000.00
| |
|
Department of Purchase
| ||
|
Purchasing Agent
|
$5,000.00
| |
|
Bureau of Streets
| ||
|
Paymaster
|
$10,000.00
| |
|
Traffic Court
| ||
|
Clerk
|
$5,000.00
| |
|
Assistant Clerk
|
$1,000.00
| |
|
Bureau of Vital Statistics
| ||
|
Registrar
|
$1,000.00
| |
|
Deputy Registrar
|
$1,000.00
| |
|
Typist
|
$1,000.00
| |
|
Stenographer
|
$1,000.00
| |
|
Bureau of Weights and Measures
| ||
|
Sealer of Weights and Measures
|
$1,000.00
| |
|
Department of Water and Water Supply
| ||
|
Commissioner
|
$5,000.00
| |
|
Deputy Commissioner
|
$5,000.00
| |
|
Cashier
|
$5,000.00
| |
|
Skilled Laborer
|
$5,000.00
| |
|
General Utility Man
|
$5,000.00
| |
|
Permit Clerk
|
$5,000.00
| |
The surety on said bonds shall be a duly organized surety company authorized
to do business in the State of New York, and the premium thereon, when approved
by the Board of Estimate and Apportionment, shall be paid out of the City
treasury.
Any bank, bankers or banking association so designed, in lieu of any
undertaking required or permitted by law to be executed by a surety company,
may execute an undertaking or undertakings with or without sureties in the
form and upon the conditions prescribed by law and, as collateral thereto,
deposit with the City Comptroller outstanding unmatured registered bonds of
the United States of America, bonds of the State of New York or of any county
or city in the State of New York, certificates of indebtedness of the City
of Albany or any bonds rated by Standard Statistics published by Standard
Statistics Co., Inc., as at least A-1+, A-1 or A or B-1+ or bonds rated by
Moody's Manual published by Moody's Investors Service Corporation as at least
AAA, AA or BAA, approved as to amount and sufficiency in like manner as such
undertaking, together with an assignment in blank and for which the City Comptroller
with whom the same are deposited shall deliver a certificate of deposit containing
a description of the bonds so deposited as such collateral. In the event of
a default on the undertaking of any depository herein referred to and the
consequent necessity to complete the assignment in blank, such completion
by the City Comptroller shall not be effective unless approved by the Mayor.
The City Comptroller may from time to time require such depositories to increase
the amount of securities to be deposited with him and may from time to time
release securities in his custody whenever the amount of the balance on deposit
shall be lawfully reduced. Upon the withdrawal of all moneys from any depository
and the closing and settlement of the account thereof, the City Comptroller
may require surrender of the certificate of deposit and thereupon shall return
the deposited bonds to the owner thereof. Whenever, in the judgment of the
City Comptroller, it appears that additional facilities for the safeguarding
of the securities deposited with him are essential, the City Comptroller may
lease or rent the same, and the expenses thereof shall be a City charge to
be audited and paid in the same manner as other charges against the City are
audited and paid.
The Mayor shall be and he hereby is authorized to lease a box or compartment
in the vault of the Albany Safe Deposit and Storage Company for the purpose
of depositing therein the bonds executed by City officers and other bonds
required by law or ordinance to be executed to the City of Albany, or any
of its officers, to secure it or them from liability or damages.
