Before the Board of Public Works shall issue to any person, upon application, a permit for the moving of any building, the person shall file with the Board of Public Works a bond in the penal sum of $500, with good freehold security, conditioned for the faithful and prompt performance of the work according to specifications in the permit, and to secure the city against damage to its streets and the citizens and property owners of the city against damage to their private property. The bond above mentioned shall be made payable to the state for the use and benefit of the city or any one damaged by such removal, and any one so damaged may obtain an action for such damage on the bond.
('74 Code, § 25-61) Penalty, see § 99.999