(a) Prior to the issuance of any use and occupancy permit to any private school, not operating under the direct control and supervision of the State Board of Education, such school shall comply with all the requirements of the Divisions of Fire, Health and Sanitation and the City Building Code.
(b) As a condition for the issuance of a use and occupancy permit by the City, such private school shall post a suitable bond with the City as follows:
(1) A surety bond in a minimum amount of fifteen thousand dollars ($15,000) to insure the continuous teaching of the required subjects offered by such schools for the full terms for which students have contracted.
(2) In the event that such a surety bond is unobtainable, cash moneys in a minimum amount of fifteen thousand dollars ($15,000) shall be deposited with the City, together with a suitable agreement that such cash bond shall be used to refund any tuitions for which it is impossible to provide the necessary course of instruction contracted and paid for, by the school so located in the City.
(3) It shall be incumbent upon the owners and/or operators of any such school to immediately notify the Finance Director whenever
tuitions contracted for and paid in to such schools exceed the sum of fifteen thousand dollars ($15,000) and to arrange with the Finance Director to deposit additional cash moneys covering such additional tuitions so contracted for and paid to such school.
(4) The Finance Committee of Council may, after continuous successful operation of any such private school, and upon submission of conclusive proof of financial stability to assure the completion of the courses of instruction offered to all students, waive the requirements of the surety or cash bond. In such case, however, the owners, partners and/or stockholders shall execute personal guarantees of the fulfillment of any commitments by the school to teach the required courses of instruction. Such guarantees shall be in form approved by the Law Director.
(Ord. 42-1963. Passed 4-22-63.)