If the application is granted by either the Board of Zoning Appeals or Council, the Building Commissioner shall issue a permit containing the restrictions imposed, if any, upon the posting of a bond in favor of the Village, conditioned upon the performance of the permit in accordance with its terms, in the amount fixed by the approving body, the bond to be signed by the applicant and such sureties as may be approved by the Mayor.
(1986 Code § 1341.04)