All management, operation, and conduct of raffles shall be under the supervision of a single raffles manager designated by the organization. The manager shall give a fidelity bond in the sum of the aggregate retail value of all prizes or merchandise to be awarded in favor of the organization conditioned upon his honesty in the performance of his duties. The bond requirement may be waived for not-for-profit organizations that have been in existence continuously within the Village for a period of 10 years immediately before making the application by the Village President by including a waiver provision in the license issued to an organization under this chapter, provided that such waiver received the affirmative vote of the requisite number of the members of the licensed organization, or, if the licensed organization does not have members, or members of the governing board of the organization, to constitute an affirmative action of the licensed organization. (Ord. 23-1037, 11-14-2023)