In lieu of the policy of insurance herein provided for, the applicant may furnish a bond executed by a surety company, authorized to do business in the state, or by two personal sureties, approved as to sufficiency by the Mayor and as to legality by the Village Solicitor, holding and binding the principal and sureties to the same liability, and subject to the same conditions as in the case of insurance policies provided for hereunder. It shall be permissible for the applicant to furnish insurance as to damages for personal injuries, including death, and an indemnity bond as to property damages, or vice versa.
(1967 Code, § 112.10) (Ord. O-23-42, passed 6-8-1942)