(a) If the city manager is absent from the city or is unable to perform his or her duties, if the board of directors or the mayor, if authorized, suspends the city manager, or if there is a vacancy in the office of city manager, the board, by resolution, or the mayor, if authorized to employ the city manager pursuant to § 14-47-119(a), may appoint an acting city manager to serve until the city manager returns, until his or her disability or suspension ceases, or until another city manager is appointed and qualifies, as the case may be.
(b) The board or the mayor, if authorized, may suspend or remove an acting city manager at any time.
(c)
(1) The board, in the exercise of its discretion, or the mayor, if authorized, may determine whether the acting city manager shall furnish bond.
(2) If in any instance the board requires the acting city manager to furnish bond, in respect to form, amount, and security it shall be subject to the approval of the board or the mayor.
(d) The acting city manager shall receive a reasonable compensation to be fixed by the board.