2006 New York Code - Penalty Of Bond To Be Fixed By Town Auditors.

 
    § 229. Penalty of bond to be fixed by town auditors. The board of town
  auditors shall meet for the purpose of fixing the penalty of the bond of
  said  supervisor, as provided in section two hundred and twenty-seven of
  this article, at the office of the town clerk within ten days after  the
  town  meeting  at  which  the  resolution  hereinbefore provided for was
  passed, upon a day to be fixed by said town clerk, whereof  each  member
  of  said  board  shall be notified by said clerk either personally or by
  mail, at least three days before the time fixed  for  said  meeting.  In
  fixing  the penalty of the bond to be given by said supervisor under the
  provisions of section two hundred and twenty-seven of this article, said
  board of town auditors shall  take  into  consideration  the  amount  of
  moneys likely to come into the hands of such supervisor by reason of the
  additional  duties  imposed  upon  him by this article.  Hereafter, in a
  town in which the duties of railroad commissioner have been  transferred
  to  the  supervisor, the general bond given by such officer, conditioned
  to safely hold and pay  over  all  moneys  coming  into  his  hands  and
  belonging to said town, shall be deemed to include and be a security for
  the  payment over of all moneys coming into the hands of such supervisor
  under and by reason of the provisions of this article.