Section 10 of the Aberdeen City Charter, as amended by Charter Amendment No. 10, shall be amended to read as follows:

Section 10. Official Bonds.

All official bonds shall be prescribed by ordinance by the City Council. All official bonds shall be approved by the City Council, and when so approved, shall be filed with the Finance Director, except the bond of the Finance Director which shall be filed with the Mayor. All provisions of any law of this state relating to official bonds of officers shall apply to such bonds except as herein otherwise provided. No city officer shall be eligible as a surety upon any bond running to the City as obligee. The City Council shall have power, whenever by it deemed expedient, to require a new or additional official bond of any officer.