2.05.010 Bond coverage.
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Borough officers and employees will be bonded in accordance with AS Title 29. The following schedule of bond coverage shall be the minimum provided:
A. The cashier shall give bond in the amount of $50,000;
B. Finance officer/treasurer shall give bond in the amount of $1,000,000; and
C. No other officer or employee need give bond unless he has sole custody of cash or other tangible assets of the borough in an amount in excess of $25,000. The borough will self-insure for such amounts. [Ord. 84-29-O, 1984; Ord. 79-11-O , 1979; Ord. 74-9-O §1, 1974; Ord. 68-25-O §2, 1968; prior code Ch. 2 subch. 1 §2. Formerly §2.08.010].