Where a provision of this code requires that the applicant for any license or permit furnish a bond, such bond shall be furnished in an amount deemed adequate by the proper city official or, where the amount thereof is specified in this code, in the amount so required; the form of such bond shall be acceptable to the City Attorney. In lieu of a bond, an applicant for a license or permit may furnish one or more policies of insurance in the same amounts and providing the same protection as called for in any such bond; any such policies of insurance shall be approved as to substance by the city official issuing said license or permit and as to form by the City Attorney.
(Prior Code, § 7.9) (Ord. effective 1-16-1989)