(A) It shall be unlawful to maintain or erect any gasoline pump or tank in any public street, alley or sidewalk without having first obtained a permit therefor from the board of trustees.
(B) No such permit shall be issued until the applicant furnishes a bond or indemnity policy in the sum of $10,000 with corporate surety to indemnify the village against loss or liability occasioned by such tank or pump.
(1968 Code § 61.17)