§ 2-782. Bonds of officials.

(a)

Conditions, form, filing, premium. If official bonds are required, they shall provide that the officials bonded shall account to the city for all articles, goods and moneys coming into their hands by virtue of their offices, including books, papers or other property. The form of these bonds shall be approved by the city attorney and their suretyship by the mayor, and they shall thereafter be filed with the chief financial officer, provided that the chief financial officer's bond shall be filed with the municipal clerk. Surety company bond premiums shall be paid by appointment made therefor in current apportionment sheets.

(b)

Officers disqualified as sureties. No member of the council or the mayor or any other city officer shall become a surety on the bond of any city official or contractor for city work. A violation of this section shall subject the offending city official to dismissal from office, and a new bond shall be made without that officer as surety thereon.

(c)

Requirements of sureties. No individual shall be accepted as personal surety on any bond, official or otherwise, that under the Charter and related state laws or ordinances of the city or under general law is required to be given to the city or to the council or to the mayor or to any officer or department of the city or to any head of any department of the city, unless that person shall own real estate in the state of a value over and above any homestead exemption allowed by law and any incumbrances thereon and that is equal to the full amount of the bond on which the person is tendered as surety.

(Code 1977, § 18-4002)