In addition to the officers required by law to give bonds, such
other officers as the Council may require shall execute bonds, in
an amount fixed by the Council, with good and sufficient surety, payable
to the City and conditioned for the faithful performance of the duties
of their offices and the payment of all moneys received by such officers;
provided, however, that no officer who, by virtue of his office, is
required or authorized to act in any other capacity shall be required
to execute an additional bond before entering upon the duties of his
office ex officio.
The cost of obtaining all bonds of officers and employees payable
to the City and the premiums thereon shall be paid out of the funds
of the City.