All officers of the city shall be included within the public employee blanket bonds at an amount determined by the governing body, conditioned for the faithful performance of the duties of their offices and the payment of all monies received by such officers according to law and the ordinances of the municipality. The premiums for the bonds shall be paid by the city. (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)(2.4.304). Formerly 2.16.120)