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Code of Ordinances |
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Article VI. FINANCIAL ADMINISTRATION PROCEDURES |
Chapter 3. PROCUREMENT AND DISPOSITION OF PROPERTY |
§ 6-304. Surety Bonds.
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Except as herein otherwise provided, the Council shall determine which officers and employees shall be required to furnish surety bonds and shall determine the amount of each such bond. The Department of Finance shall procure all such surety bonds from companies licensed to do business in the state. All such bonds shall be in favor of the City, and the premiums thereon shall be borne by the City.