No person shall maintain or erect any gasoline pump or tank in any pump or tank in any public street, alley or sidewalk without first obtaining a permit therefor from Council.
No such permit shall be issued until the applicant furnishes a bond or indemnity policy with corporate surety, in the sum of two thousand dollars ($2,000), to indemnify the City against loss or liability occasioned by such tank or pump.
(1942 Code Chap. XL, Art. I, Sec. 18)