1323.04 BOND REQUIRED.

   Upon the granting of the application, the Director of Public Service shall be instructed to issue the permit, containing the conditions imposed upon it, if any, and the permit shall be issued to the applicant upon posting of a bond in favor of the City, conditioned upon the performance of the permit in accordance with its terms. The bond shall be signed by the applicant, as principal, and a surety company or two good and sufficient sureties satisfactory to the Mayor. The bond shall be in the amount of five hundred dollars ($500.00) for each acre, or fraction thereof, of property under the permit. The bond shall be filed with the Mayor.

(Ord. 10-62. Passed 2-19-62.)