[Amended 2-6-1996, effective 2-20-1996; 12-14-2004, effective 12-22-2004]
Each person now holding the office enumerated in this section
or who is hereafter elected or appointed thereto shall execute and
cause to be approved and filed in the office of the Comptroller and
kept in force an undertaking to the City of Buffalo, or such elected
or appointed official may be covered under the blanket undertaking
or bond of the City of Buffalo, in the penal sum set opposite the
title or designation of the office, conditioned that he will faithfully
discharge the duties of his office and promptly account for, pay over
and deliver all money and property received by him belonging to said
City or, in default thereof, that the parties executing such undertaking
will pay all damages, costs and expenses resulting from such default,
not exceeding the sum therein specified. Each such undertaking shall
be executed by the officer as principal and by an incorporated surety
company authorized by law to transact business in the State of New
York as surety. The undertaking shall be subject to approval by the
Corporation Counsel as to form and by the Comptroller as to sufficiency.
The undertakings of the respective officers shall be:
Officer
|
Amount
|
---|
President of the Council
|
$100,000.00
|
Mayor
|
$100,000.00
|
Comptroller
|
$300,000.00
|
Commissioner of Administration and Finance
|
$300,000.00
|
The premiums on all such bonds or undertakings required by this
article shall be paid by the City of Buffalo.