All operation of and the conduct of raffles shall be under the supervision of a single raffle manager designated by the organization. If the individual or combined value of all items to be raffled exceeds ten thousand dollars ($10,000.00), the manager shall give a fidelity bond in the sum of an amount determined by the village clerk, in favor of the organization, conditioned upon his or her honesty in the performance of his or her duties. Terms of the bond shall provide that notice shall be given in writing to the village not less than thirty (30) days prior to its cancellation. The village clerk may waive this bond requirement by including a waiver provision in the license issued to an organization under this chapter, provided that a unanimous vote of the village board of trustees has approved the waiver of the raffle manager's bond. (Ord. 16-18, 9-26-2016)