The City Treasurer shall be elected for a four-year term at
the same time the Mayor is elected. If a vacancy occurs in the office
of the City Treasurer, it shall be filled by the Mayor with the advice
and consent of the City Council, the person so appointed to hold office
for the unexpired term of the officer elected.
The compensation of the Treasurer shall be fixed by ordinance
at least 180 days before the beginning of the terms of the elected
official whose compensation is to be fixed. In no case may the compensation
be raised or lowered during a term of office.
[Amended 9-14-2004 by Ord. No. 14-2004; 7-22-2014 by Ord. No. 8-2014]
The annual salary of the City Treasurer shall be $12,000, effective
upon the beginning of the term following the 2017 Consolidated Election.
The City Treasurer shall give a bond in such sum as may be provided
by law, and required by the Council, but the bond shall not be less
than the amount required by statute. The bond shall be conditioned
upon the faithful performance by the Treasurer of the duties of his
office, and to indemnify the City for any loss due to any neglect
of duty or wrongful act on the part of the Treasurer.
At the end of every month and more often if required by the
corporate authorities, the City Treasurer shall render an account
under oath to the City Council, showing the state of the treasury
at the date of the account, including investments, and the balance
of money in the treasury. He shall accompany the account with a statement
of all money received into the treasury and on what account, together
with all warrants redeemed and paid by him.
The Treasurer shall deposit the City funds in such depositaries
as may be selected from time to time by the City Council. He shall
keep separate special funds as are required by law. All deposits in
any one bank, regardless of the number of funds, may not exceed the
limitation provided by law. He shall keep the City money separate
and distinct from his own and shall not intermingle his own money
with it or make private or personal use of the City funds.