Show Bonds Covering Offices Off Saving Money for Cities Cities Citie are arc learning how better to bond their officials without making an unnecessary outlay of funds Bonds covering the office rather than the p person holding it have reduced the rat rates s and are arc less troublesome upon changes in the personnel Mayo Fesler Feder director Citizens' Citizens League of Cleveland Ohio makes this thia point int inthe in inthe t the e February issue of Public Management Management Manage Manage- ment official journal of the International City Mana Managers Managers' ers ers' association As long longas as the personal bond and not the position bond was the prevailing pre form lorm the awarding of bonds was WU generally made without competition compe compe- nd and mo mos most frequently i went to th the political political favorites favorites in the bonding b business sin ss Mr r says nys This his led to many persons being bonded who handled no money and had little responsibility A A. great variation va Va- nation in the number of ot bonded however is still evident Chicago Chi c cago go bonds all who handle money negotiable papers s sand and property property prop property erty ot of value Even men in charge of ot street t cle cleaning ning equipment are are arc in eluded More are bonded In Chicago than in New York Cincinnati Cin Cia a city of about population population population pop pop- bonds 47 positions outside police poUce and fire tire departments Dayton l less u th than n half its size bonds 98 Mr Fesler recognizes five fundamental fundamental funda unda- mental features in a sound municipal bonding policy 1 I. Official bonds should be paid for out of or public funds 2 Bonded positions should be limited to those only in which the he officer or or handles mone money or val valuable property convertible into money 3 Bonds should should be be written to cover position rather than person 4 Purchase of o official bonds should be made on c competitive bids annually annual annual- ly Iy or biennially 5 Bonds should h uld be purchased only from surety companies compa ompa- nies whose reputation is good and whose solvency is assured |