(A) Every application as set forth in § 90.01 shall be accompanied by a bond to the city in the amount of $1,000, signed by the applicant and a surety company registered under the laws of the Commonwealth of Kentucky, or by two property owners, each of whom must have an equity of at least $1,000 in real estate in Boone County, Kentucky over and above all taxes, liens or mortgages, and homestead exemptions.
(B) This bond shall specify that in the event the city is sued because of injuries sustained, or property damaged by reason of such excavation, the principal and surety in the bond will, to the extent of $1,000, pay any judgment obtained by the claimant, and will pay the court cost and attorneys' fees incurred by the city.
(Ord. O-183-44, passed 2-8-44)