§ 2.12.060. Insurance—Surety bonds—Contracts.

The clerk, subject to the supervision of the mayor and council, shall:

A.

Be the depository and custodian of all official surety bonds furnished by or on account of any officer or employee, except his or her own bond which shall be placed in the custody of the treasurer; of all insurance policies upon or with respect to risks insured for the benefit of the borough or to protect it against any claim, demand or liability whatsoever; and all formal contracts for work, labor, services, supplies, equipment and materials to which the municipality may be a party;

B.

Be the depository for and have custody of all performance bonds running to the borough as obligee, or any other form of security given by any contractor, subdivision developer or other persons on account of work done, or to be done in or for the borough;

C.

Have custody of all leases of property owned by the borough;

D.

Report to the borough council annually, at such time as the council may require on the coverage, expiration date and premium of each surety bond and contract of insurance; the nature and terms of outstanding leases, the rent reserved by each and their respective expiration dates.

(Prior code § 2-6.6)