Each person, firm or corporation maintaining such a sign shall file with the City Clerk evidence of bond or indemnity policy in the sum of $5,000, conditioned to indemnify the city for any loss or damage or liability that may result from the construction or maintenance of such sign or canopy. Such bond or indemnity policy shall have such sureties as may be approved by the Mayor and City Council.
(Prior Code, § 9-3-2) Penalty, see § 10.99