Each construction contractor must provide the Village with a surety bond at the time of registration in the amount of ten thousand dollars ($10,000.00). The bond must be made by a surety approved by the Village and in a form acceptable to the Village. The Village will provide a standard form for the required bond. The bond must indemnify the Village against any claim, loss, costs, damage, judgment, or liability of any kind whatsoever that the Village may suffer, or that may accrue against the Village or be charged to or be recovered from the Village or any of its officials by reason of any act or thing done or neglected to be done under or by virtue of the authority given to the construction contractor. No bond is required for a properly licensed plumbing contractor. (Ord. 2009-01-608, 1-19-2009)