Every person applying for a permit to move a building shall submit with the application a bond in the sum of $10,000 with good and sufficient sureties to be approved by the director of public works to indemnify and insure the village for any loss it may incur or damage done to public or other property, or persons, or for any cost that might be incurred under § 9-65, because of the moving of the building in question, and public liability insurance in limits of $100,000 for one person and $300,000 for two or more persons, insuring the village against claims for bodily injury in a responsible insurance company approved by the director of public works.