Before any such permit shall be issued, the applicant therefor shall file with the commissioner a bond in the penal sum of $10,000.00, with sureties to be approved by the said commissioner, conditioned upon the faithful observance and performance of each and every condition and provision of this chapter dealing with the use of space in water pipe tunnels and of said permit, and conditioned further to indemnify, keep and save harmless the city against all liabilities, judgments, costs, damages and expenses which may in any way come against the said city in consequence of the issuance of said permit, or which may accrue against, be charged to, or recovered from said city from, or by reason, or on account of the issuance of such permit including any damages which may result to said water pipe tunnel or any of the city property installed therein. The liability of the grantee in said permit shall in no way be limited to the amount of the bond herein provided for, but shall extend to the entire amount of such liability, cost, damage, or expense of said city. Said bond and the liability of the sureties thereon shall be kept in force throughout the life of said permit, and if at any time during the life of said permit such bond shall not be in full force, then the privileges therein granted shall thereupon cease.
(Prior code § 185-51; Amend Coun. J. 12-4-02, p. 99026, § 1.12)