Applications for such permits shall be made to the City Clerk and shall be accompanied by an amount to be determined from time to time by the city and by a bond or indemnity policy, with corporate surety in the sum of $10,000 conditioned to indemnify the city for any loss or damage or liability that may result from the construction or maintenance of such vault, room or structure. Each application shall show thereon the size of such structure and the purpose for which it is intended to be used.
(‘82 Code, § 12.32.020)