(A) The applicant for a license or permit must furnish a surety bond to the city in the total penal sum of $25,000 for mechanical, for pipe layers and plumbers, which is conditioned upon the faithful and lawful performance of all work entered upon within the city. The bond is for the benefit of persons injured or suffering financial loss by reason of failure of performance. The term of the bond must be concurrent with the term of the license. The bond must be written by a corporate surety licensed to do business in the State of Minnesota.
(B) The bond must be filed with the city prior to licensure, except that the applicant may provide to the city a certificate evidencing that the applicant has given bond to the State of Minnesota, pursuant to M.S. §§ 326.40, 326B.46 and 326B.197, and that the bond is in force and on file with the Secretary of State. If said certificate is provided, a separate bond is not required by the city.
('72 Code, § 323:20) (Ord. 1995-779, passed 4-24-95; Am. Ord. 2022-1285, passed 11-14-22)