(a) Bond. Any person filing an application hereunder shall file with the Zoning Administrator a bond approved as to form by the City Attorney, executed by a bonding or surety company authorized to do business in the State in the amount of three hundred thousand dollars ($300,000), conditioned upon the assurance that this and other applicable ordinances and laws will be complied with. Such bond shall run to the City for the use and benefit or any person intended to be protected thereby and shall be conditioned on the payment of any damage to public or private property and the payment for any damages or losses resulting from any malfeasance, misfeasance, nonfeasance or negligence in connection with any of the activities or conditions upon which the permit applied for is granted.
(b) Insurance Policy in Lieu of Bond. Any person filing an application hereunder may, in lieu of the bond required in subscription (a) hereof, file with the Zoning Administrator a liability insurance policy, issued by an insurance company authorized to do business in the State, and approved as to form by the City Attorney, in the same amount and providing the same protection as would be required for a bond hereunder.
(Ord. 86-2005. Passed 12-19-05.)