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(A) An applicant for a permit under this chapter shall first submit a good and sufficient bond, secured by either a reputable surety or property, in an amount not to exceed double the reasonable cost of clearing the land of all debris and sealing all utilities where the demolition is to take place. The Building Inspector shall determine the amount of the bond. The bond shall be used to cover the cost incurred by the city in completing any demolition begun in the event the permit holder does not comply with the provisions of this chapter.
(B) The Inspector may also require the applicant to provide proof of liability insurance coverage which covers injury or damage likely to arise out of the demolition.
(1982 Code, § 156.03) (Ord. 1984-44, passed 2-4-1985) Penalty, see § 156.99