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HomeMy Public PortalAbout00004AMENDED BY ORDINANCE NO. 15 O R D I N A N C E NO. 4 AN ORDINANCE to provide for the furnishing of surety bonds by Executive Director, Director of Finance and Secretary- Treasurer of the District, prescribing the amounts thereof, the character of surety and the method of approval. BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT. Section One. The Executive Director, the Director of Finance and the Secretary-Treasurer shall, before entering upon the discharge of their duties, give bond in the sum of Fifty Thousand Dollars ($50,000.00) to the District. Section Two. All bonds shall be furnished with surety companies authorized to do business in the State of Missouri and approved by the Board as sureties. Section Three. The bonds furnished pursuant to this ordinance shall be in such form as may be prescribed by the Counsel for the Board. Section Four. The premiums on such bonds shall be billed to the District and shall be paid by the District, and the bonds shall be filed in accordance with Section 7.070 of the Plan of the Metropolitan St. Louis Sewer District. Section Five. The necessity for officers of the District to furnish bond before entering upon the performance of their duties, and the immediate need for the appointment and functioning of such officers, creates an emergency within the meaning of the Plan and this ordinance shall take effect immediately upon its enactment. The foregoing Ordinance was adopted April 30, 1954