Where the provisions of this chapter require that the applicant for any registration or permit furnish a bond, the bond shall be furnished in an amount deemed adequate by the proper village officer, or, where the amount thereof is specified in the schedule of fees and bonds set out in a fee schedule set by village resolution from time to time; the form of the bond shall be acceptable to the Village Attorney. In lieu of a bond, an applicant for a registration or permit may furnish one or more policies of insurance in the same amounts and providing the same protection as called for in any such bond; any such policies of insurance shall be approved as to substance by the village official issuing the registration or permit and as to form by the Village Attorney.
(1984 Code, § 8-14-012)