§ 2-1258. Bond for secretary of board of trustees.

Latest version.

The secretary of the board of trustees shall, before assuming the duties of that office, give a good and sufficient surety bond in an amount not less than $1,000,000.00, conditioned upon the faithful performance of the respective duties as secretary and to account for all moneys, securities and property which may come into the secretary's hands or under the secretary's control by virtue of such office. Such surety company shall be duly licensed to transact business in the state. The premium for such bond shall be paid out of funds of the pension system. Such bonds shall be subject to the approval of the director of finance.

(Ord. No. 991491, § 1, 11-23-99; Ord. No. 140976 , § 2, 12-11-14)

                    
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