A. The mayor and each member of the city council, prior to assuming office, must file with the city recorder a bond, with corporate sureties, conditioned upon the faithful performance of the duties of the office and the payment of all monies received by the mayor according to law and ordinances of the city. The bond must be payable to the city in the penal sum of two thousand five hundred dollars. The premium charged by a corporate surety for the bond is paid by the city.

B. The bond of the mayor is approved by the city council at the first meeting of the city council in January following a municipal election. The individual bonds of the members of the city council are approved at the first meeting of the city council in January following the municipal election.

C. Instead of providing a bond under subsections (A) and (B) of this section, the city may add the mayor and each member of the city council to the city’s theft or crime insurance policy prior to the mayor and city council member discharging the duties of their respective offices. The theft or crime insurance policy must cover the mayor and each member of the city council for at least the bond amount provided in subsection (A) of this section. (Ord. 2023-07 § 1 (Att. A); Ord. 2/16/2010O-2 § 1 (Exh. A (part)); Ord. 4/21/2009O-7 § 1 (Exh. A (part)); Ord. 10/02/2007O-14 § 1 (Exh. A)(2.4.205); Code 1975 § 3-819. Formerly 2.16.050)