Pursuant to RCW 42.24.180(1), as auditing officer and the officer designated to sign the checks or warrants, the Director of Finance and Mayor shall each furnish an official bond for the faithful discharge of their duties in an amount not less than fifty thousand dollars. All premiums for such bonds, including without limitation initial and renewal premiums, shall be paid by the City. (Ord. 1491 § 2, 1989: Ord. 1234 § 2, 1985).