Each applicant for a permit under this subchapter shall file a bond in the amount of at least $10,000, but no less than the contract amount of the work to be performed, with sureties to be approved by the Public Works Director, conditioned to indemnify the village from any loss or damage resulting from the work undertaken or the manner of doing the same.
(`70 Code, § 19-37) (Ord. 729, passed 8-12-03)