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Ord 1932 - Amending Chapter 2, Section 2.30.015 of the Town Code Relating to the Bonds Required of Certain Town OfficialsORDINANCE 1932 ORDINANCE OF THE TOWN OF LOS GATOS AMENDING CHAPTER 2, SECTION 2.30.015, OF THE TOWN CODE RELATING TO THE BONDS REQUIRED OF CERTAIN TOWN OFFICIALS THE TOWN COUNCIL OF THE TOWN OF LOS GATOS DOES HEREBY SECTION I Section 2.30.015 of the Town code is hereby amended to read as follows: Section 2.30.015. Bonds required of certain city officials. The officials of the town set out in this section shall, before entering upon the duties of their respective offices, each execute a bond to the town, which shall conform to the provisions of the Government Code of the state relating to bonds of public officials. Each such bond shall be executed by a surety company authorized to do business in the state and the premiums upon such bonds shall be paid by the town out its general fund. The penal sum of such bonds shall be as follows: Town manager ............................. $ 25,000.00 Town clerk . ............................... 25,000.00 Town treasurer .............................. 100,000.00 Finance director ............................. 100,000.00 Excess Coverage: $500,000 excess blanket faithful performance on all Town employees including Town treasurer, Finance director, Town manager and Town clerk with a $500 deductible per loss. The town council shall approve all bonds of officials of the town, and when approved the bond of the town clerk shall be filed with the mayor and bonds of other officials shall be filed with the town clerk. SECTION II This ordinance was introduced at a regular meeting of the Town Council of the Town of Los Gatos on February 16, 1993 and adopted by the following vote as an ordinance of the Town of Los Gatos at a regular meeting of the Town Council of the Town of Los Gatos on March 1, 1993. This ordinance takes effect 30 days after it is adopted. COUNCIL MEMBERS: AYES: Randy Attaway, Steven Blanton, Linda Lubeck, Patrick O'Laughlin Mayor Joanne Benjamin NAYS: None ABSENT: None ABSTAIN: None SIGNE MAYOR OF THE TOWN OF LOS GATOS LOS GATOS, CALIFORNIA ATTEST: -- ) tt — e aA -.. oz�� CLERK OF THE TOWN OF LOS GATOS LOS GATOS, CALIFORNIA 2