§ 2-1185. Official bonds.  


Latest version.
  • (a)

    The Director of Finance is authorized and directed to procure a blanket corporate surety bond covering all persons holding positions as officers and employees of the City in such form as shall be approved by the City Attorney. Such bond shall be in the amount of $50,000.00 for each such person and shall be conditioned upon the faithful performance or discharge of the duties imposed by law or ordinance and rules, regulations and requirements adopted in pursuance thereof by such persons as officers and employees of the City and by their deputies, assistants and other subordinates.

    (b)

    The blanket corporate surety bond, as to the following officers and employees in the Department of Finance and Office of the Board of Trustees of the Richmond Retirement System, shall be in the following additional amounts:

    (1)

    Department of finance.

    a.

    Director of Finance: $450,000.00.

    b.

    Deputy Director of Finance: $150,000.00.

    c.

    Collector of City taxes: $450,000.00.

    d.

    Senior accountant (sinking fund accounts): $50,000.00.

    e.

    Administrative accountant: $50,000.00.

    f.

    Collection manager (south side): $50,000.00.

    g.

    Office manager: $50,000.00.

    (2)

    Executive Director of the Office of the Board of Trustees of the Retirement System: $50,000.00.

    (c)

    The Director of Finance shall be the custodian of all of the bonds procured under this section.

    (Code 1993, § 2-83; Code 2004, § 2-1114)

    Charter reference— Authority of Council to provide for surety bonds, § 4.02(e); authority of City to exercise rights without filing or executing bonds, § 20.11.

    State Law reference— Required bonds, Code of Virginia, § 15.2-1527; bond required of city treasurer, Code of Virginia, § 15.2-1530; premiums on bonds, Code of Virginia, § 15.2-1532; bonds generally, Code of Virginia, § 49-12 et seq.

(Code 1993, § 2-83; Code 2004, § 2-1114)

State law reference

Required bonds, Code of Virginia, § 15.2-1527; bond required of city treasurer, Code of Virginia, § 15.2-1530; premiums on bonds, Code of Virginia, § 15.2-1532; bonds generally, Code of Virginia, § 49-12 et seq.

Charter reference

Authority of Council to provide for surety bonds, § 4.02(e); authority of City to exercise rights without filing or executing bonds, § 20.11.