A satisfactory bond shall be required of each permittee in the sum of not less than five hundred dollars ($500.00), conditioned for the payment of all damages which may be caused either to persons or property by reason of the licensed display and arising from the acts of the permittee or his or her agents, employees or subcontractors. The aggregate liability of the surety on such bond for all damages in no event shall exceed the sum of such bond.
(Prior code 10-5-4)