§ 2-32. Surety bonds generally.

(a)

The city shall purchase corporate, surety performance bonds on such city officials and in such amounts as it deems necessary; provided, however, that the city shall purchase a bond for the city clerk, and such bond shall be not less than $50,000.00.

(b)

All such bonds shall be conditioned on the faithful performance by the officer or employee named in it of his official duties and for the proper accounting and disposition of any city funds which may come into his possession.

(c)

Such bonds shall be executed as surety by a reputable and duly licensed bonding company authorized to do business in the state and shall be approved as to form and as to sufficiency by the mayor.

(Code 1958, §§ 12.03, 12.04; Ord. No. 1862, § 2, 7-1-63)

State law reference

Power of city to require bonds, RSMo 77.480.