Rizzo and seven other former and current Bell city officials were arrested Sept. 21 for illegally overcharging Bell residents extra fees and taxes to support their excessively high salaries and benefits packages.
Rizzo's bail was originally set at $3.2 million.
The judge stipulated that Rizzo will have to surrender his passport to the court and also wear an electronic monitoring device.
All eight Bell officials who were arrested are due back in court Oct. 21 to be arraigned on corruption charges.