Official bonds required by this Charter, or by any ordinance of the City of Phoenix, shall be conditioned that the principal will well and truly, honestly and faithfully, perform the duties of his office, and will at all times account to the City or the proper officers thereof, for all moneys and property received or taken by him on behalf of the City, and at the expiration of his office, or termination thereof, he will promptly surrender to his successor in office, or to such officer as may be designated by the Council, or his superior officer, all the books, records, papers, documents, property and paraphernalia belonging to or used in said office, or in connection therewith, together with a complete inventory and statement of such property so to be turned over by him.