(a) Bond Required. As a condition for the issuance of a license to any contractor as herein provided, such contractor shall give a bond to the Municipality in the principal sum of twenty thousand dollars ($20,000), or some other amount as determined appropriate by the Building Commissioner. Such bond shall be conditioned on the licensee's performing all work to be done by him as a contractor in his trade in conformity with all of the laws of the State, the ordinances of the Municipality and the plans and specifications approved by the State or the Municipality. Upon default of such performance, the obligation of the bond shall become effective. The form of the bond shall be such as the Law Director prescribes and no license shall become effective until such bond has been filed with the Treasurer or Building Department.
(b) Registration with Regional Income Tax Administrator. No registration shall be issued by the Building Commissioner authorizing any contractor to engage in the activities listed in this chapter until evidence is provided to the Building Commissioner that the contractor is registered with the Regional Income Tax Administrator of the Village.
(Ord. 2016-72. Passed 9-14-16.)