A licensee who has had a liquor license revoked or suspended within the last three (3) years shall, as a condition of obtaining or retaining a liquor license from the village, obtain a surety bond in the sum of two thousand dollars ($2,000.00) with a solvent surety company licensed to do business in the state of Illinois and approved by the commissioner. The bond shall be made payable to the village and conditioned on the faithful observance by the licensee of the provisions of this chapter, all ordinances and laws of the state of Illinois and of the United States Of America applying to the sale and possession of alcoholic liquor and shall be further conditioned on the payment of all fines and costs which may be assessed against the licensee by the local liquor control commissioner for the violation of any of the provisions of this chapter. If a licensee shall be fined and fails to pay the fine, or the license shall be revoked by the commissioner and no appeal is taken from such, the order or any appeal taken therefrom is decided adversely to the licensee, the bond shall be forfeited and the commissioner may institute suit on such bond in the name of the village for the entire amount of the bond. (Ord. 13-22, 6-4-2013)