The terms of the bonds herein shall be for any period from one to three years and the surety shall be any reliable corporate surety authorized to do business in the State of Washington. The bonds shall be kept on file in the office of the Director of Financial and Management Services and shall be approved by the Director of Financial and Management Services. The bond of the Director of Financial and Management Services shall have the approval of the mayor. (Ord. M-205 §3; Ord. M-216, 1955: Ord. M-737 §2, 1964)