Each application shall be accompanied by a bond of the raffle manager. All operation of and the conduct of raffles shall be under the supervision of a single raffle manager designated by the application. At the time the application is submitted to the village clerk, the manager shall give a fidelity bond in the amount of the maximum dollar amount of all raffle chances to be sold (as stated on the application) in favor of the applicant conditioned upon his honesty in the performance of his duties. Terms of the bond shall provide that notice shall be given in writing to the licensing authority not less than thirty (30) days prior to its cancellation. The president and board of trustees may waive this bond requirement by including a waiver provision in the license issued to an organization under this chapter; provided, that a license containing such waiver provision shall be granted only by a unanimous vote of the members of the board of trustees. All bonds must be approved by the village clerk. (Ord. 83-06, 4-19-1983; amd. 2001 Code)