Before obtaining a permit under the provisions of this Article, the applicant, as a condition to the permit, shall post with the City Clerk, a bond in the amount of ten thousand dollars. The bond shall be conditioned upon the full and faithful performance by the permittee of obligations under the applicable provisions of this chapter and shall be kept in full force and effect by the permittee throughout the life of the permit and all renewals thereof. The bond shall be issued by an insurer admitted to transact surety insurance in the State of California, and shall be subject to the approval of the City Attorney.
(Ord. 701-2000, § 1(part)).