The financial administration ordinances adopted pursuant to Section 10-6-158 shall provide for the following:
(1) a maximum sum over which all purchases may not be made without the approval of the mayor in the council-mayor optional form of government or the governing body in other cities; however, this section does not prevent the mayor in the council-mayor optional form of government or the governing body in other cities from approving all or part of a list of verified claims, including a specific claim in an amount in excess of the stated maximum, where certified by the appropriate financial officer or officers of the city;
(2) that the financial officer be bonded for a reasonable amount; and
(3) such other provisions as the governing body may deem advisable.