(a) The finance officer shall give a true accounting andfaithful performance bond with sufficient sureties in an amount to be fixed bythe governing board, not less than fifty thousand dollars ($50,000). Thepremium on the bond shall be paid by the local government or public authority.
(b) Each officer, employee, or agent of a local government orpublic authority who handles or has in his custody more than one hundreddollars ($100.00) of the unit's or public authority's funds at any time, or whohandles or has access to the inventories of the unit or public authority,shall, before being entitled to assume his duties, give a faithful performancebond with sufficient sureties payable to the local government or publicauthority. The governing board shall determine the amount of the bond, and theunit or public authority may pay the premium on the bond. Each bond, whenapproved by the governing board, shall be deposited with the clerk to theboard.
If another statute requires an officer, employee, or agent to bebonded, this subsection does not require an additional bond for that officer,employee, or agent.
(c) A local government or public authority may adopt a system ofblanket faithful performance bonding as an alternative to individual bonds. Ifsuch a system is adopted, statutory requirements of individual bonds, exceptfor elected officials and for finance officers and tax collectors by whatevertitle known, do not apply to an officer, employee, or agent covered by theblanket bond. However, although an individual bond is required for an electedofficial, a tax collector, or finance officer, such an officer or electedofficial may also be included within the coverage of a blanket bond if theblanket bond protects against risks not protected against by the individualbond. (1971, c. 780, s. 1; 1975, c. 514, s. 14; 1987 (Reg.Sess., 1988), c. 975, s. 32; 2005‑238, s. 2.)
(a) The finance officer shall give a true accounting andfaithful performance bond with sufficient sureties in an amount to be fixed bythe governing board, not less than fifty thousand dollars ($50,000). Thepremium on the bond shall be paid by the local government or public authority.
(b) Each officer, employee, or agent of a local government orpublic authority who handles or has in his custody more than one hundreddollars ($100.00) of the unit's or public authority's funds at any time, or whohandles or has access to the inventories of the unit or public authority,shall, before being entitled to assume his duties, give a faithful performancebond with sufficient sureties payable to the local government or publicauthority. The governing board shall determine the amount of the bond, and theunit or public authority may pay the premium on the bond. Each bond, whenapproved by the governing board, shall be deposited with the clerk to theboard.
If another statute requires an officer, employee, or agent to bebonded, this subsection does not require an additional bond for that officer,employee, or agent.
(c) A local government or public authority may adopt a system ofblanket faithful performance bonding as an alternative to individual bonds. Ifsuch a system is adopted, statutory requirements of individual bonds, exceptfor elected officials and for finance officers and tax collectors by whatevertitle known, do not apply to an officer, employee, or agent covered by theblanket bond. However, although an individual bond is required for an electedofficial, a tax collector, or finance officer, such an officer or electedofficial may also be included within the coverage of a blanket bond if theblanket bond protects against risks not protected against by the individualbond. (1971, c. 780, s. 1; 1975, c. 514, s. 14; 1987 (Reg.Sess., 1988), c. 975, s. 32; 2005‑238, s. 2.)
(a) The finance officer shall give a true accounting andfaithful performance bond with sufficient sureties in an amount to be fixed bythe governing board, not less than fifty thousand dollars ($50,000). Thepremium on the bond shall be paid by the local government or public authority.
(b) Each officer, employee, or agent of a local government orpublic authority who handles or has in his custody more than one hundreddollars ($100.00) of the unit's or public authority's funds at any time, or whohandles or has access to the inventories of the unit or public authority,shall, before being entitled to assume his duties, give a faithful performancebond with sufficient sureties payable to the local government or publicauthority. The governing board shall determine the amount of the bond, and theunit or public authority may pay the premium on the bond. Each bond, whenapproved by the governing board, shall be deposited with the clerk to theboard.
If another statute requires an officer, employee, or agent to bebonded, this subsection does not require an additional bond for that officer,employee, or agent.
(c) A local government or public authority may adopt a system ofblanket faithful performance bonding as an alternative to individual bonds. Ifsuch a system is adopted, statutory requirements of individual bonds, exceptfor elected officials and for finance officers and tax collectors by whatevertitle known, do not apply to an officer, employee, or agent covered by theblanket bond. However, although an individual bond is required for an electedofficial, a tax collector, or finance officer, such an officer or electedofficial may also be included within the coverage of a blanket bond if theblanket bond protects against risks not protected against by the individualbond. (1971, c. 780, s. 1; 1975, c. 514, s. 14; 1987 (Reg.Sess., 1988), c. 975, s. 32; 2005‑238, s. 2.)
