No permit shall be issued permitting or allowing the tearing up, removing or repairing of any public way, or any part thereof, until the applicant for such permit shall first have executed to the village a good and sufficient bond in an amount to be fixed by the Superintendent of Public Works and in no case to be less than $10,000, with sureties to be approved by said Superintendent of Pubic Works, conditioned to indemnify, save and keep harmless the village from any and all loss, cost, damage, expense or liability of any kind whatsoever which the village may suffer, which the village may be put to or which may be recovered from the village, from or on account of the issuance of such permit, from or on account of any act or thing done by virtue of the authority given in such permit or for any damage, loss or expense to any person caused by the tearing up, removing or repairing of such public way or part thereof.
(Ord. 128-58, passed 12-2-58)