Each of the following city officials shall execute and keep on file in the office of the City Clerk an official bond, for the honest and faithful performance of their official duties in the penal amount shown, before such official enters upon the duties of their office and during his tenure as such official: Chief of Police, five thousand dollars; City Clerk, five thousand dollars; City Attorney’s office, ten thousand dollars; Director of Finance, fifty thousand dollars. Other city officials shall be covered by a blanket fidelity and faithful performance bond under the City’s insurance program for such amounts and coverage as determined and set from time to time by the City Council. All premiums for such bonds, including without limitation initial and renewal premiums, shall be paid by the City. (Ord. 1491 § 1, 1989: Ord. 500 § 2, 1969).