§ 2-469. Surety bonds.

Latest version.

The city clerk and the city treasurer shall furnish corporate surety bonds conditioned for the faithful exercise of their duties and the proper application and payment upon demand of monies officially received by them. Such surety bonds shall also be furnished by such other officers and employees of the city as may be required by the manager. Unless otherwise prescribed by state law, the amount of such bonds shall be fixed by the council and the premium thereon shall be paid from city funds.

(Code 1970; Code 1992, § 115.12; Ord. No. 101, 1970; Ord. No. 101-A1, 8-24-1977; Ord. No. 101-A2, 2-15-1978; Ord. No. 2011-05, 5-3-2011)

State law reference

Surety bonds, Minn. Stats. §§ 412.111, 412.191, 471.705.

                    
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