Every licensee under the provisions of this subchapter shall file with the Village Clerk a bond in the sum of $5,000 with sureties to be approved by the President and Board of Trustees conditioned to indemnify the village for any loss, damage, or expense occasioned by it; by any act or failure to act of the licensee, or by any failure of the licensee to comply with provisions of this code or other ordinances relating to the business of house moving or moving houses.
(`95 Code, § 117.113)