Each applicant shall file with the application a bond in the sum of ten thousand dollars, with surety approved by the mayor and city council conditioned to save the city harmless from any liability resulting from or caused by such vault, room or structure.
Whenever, in the opinion of the mayor and city council, the sureties on such bond become insolvent or unlawful, different sureties may be required by order of the mayor and city council.
(Prior code § 18.603).