1179.15 BOND OR INSURANCE.

   No person, firm or corporation shall install, erect or maintain any sign or medium of display or advertising, electric or otherwise, exceeding twenty-five square feet in area, until such person, firm or corporation has filed with the Building Commissioner a surety bond in the sum of ten thousand dollars ($10,000). Such bond shall be subject to the approval of the Director of Law and shall be conditioned upon the installation and erection of signs in accordance with the ordinances of the City and the laws of Ohio. It shall also provide for the indemnification of the City for any and all damages or liability which may accrue against it by reason of faulty installation, erection, demolition, repair, removal or defects in, or collapse of, any sign for a period of one year after erection and for such period of time that such a sign is maintained or serviced by or under the direction of the maker of such bond. Such bond shall further provide for the indemnification of any person, firm or corporation who shall, while upon public property or in any public place, incur damage for which the principal named in the bond is legally liable.

   In lieu of executing and filing a bond under this section, the applicant may file with the Clerk-Treasurer a certificate of an insurance company duly authorized to do business in Ohio certifying that there is in effect an insurance policy in an amount equal to the penal sum required if a bond were filed, insuring the applicant and the City against any and all claims for personal injury or damage to property that in any way result from such a sign or marquee. The certificate shall also state that the policy shall not be canceled or in any manner amended, changed or altered without giving the Clerk-Treasurer five days written notice thereof. All of the provisions of the ordinances of the City and of this section shall be applicable to any certificate filed in accordance with the provisions hereof.

(Ord. 72-13. Passed 7-11-72.)