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A. Requirement, Term and Renewal—Approval by City Attorney, Premiums. All officers, commissioners, heads of departments, the city manager and any subordinates, deputies, or employees required by the city council to execute surety bonds for the faithful performance of their official duties, shall furnish a bond in the sum designated by the city council, the term of which bond shall not exceed one year. The officers, commissioners, heads of departments, city manager, subordinates, deputies or employees shall thereafter continue the undertaking by furnishing like bonds annually. The city attorney shall be required to pass upon the sufficiency of each undertaking. The annual premiums for all such bonds shall be paid by the city.

B. City Manager Authorized to Release Sureties Under Prior Bond. In order to carry into effect the purposes and intent of subsection A of this section, the city manager is authorized and empowered to release from further liability, the principals and/or sureties upon any bond or bonds of officers and employees of the city for any acts of a principal occurring subsequent to the effective date of a new approved bond covering such officer or employee of the city. The city attorney shall prepare such form of release to be executed by the city manager. (Prior code § 3.22.010)