The town manager, town clerk, treasurer and agent of the town
deposit fund, collector of revenues, building inspector, director
of public works and such other officers and employees as may be required
to do so by vote of the council shall, before entering on their respective
official duties, execute to the town, in the form prescribed by the
town attorney, and file with the town clerk a surety company bond
in a penal sum to be fixed by the council, conditioned upon the faithful
performance of such official duties. Premiums for such bonds shall
be paid by the town.