(A) The bond shall be a corporate surety bond and shall be filed with the Clerk before the license is issued. Except where otherwise provided, a bond shall be in the amount of at least $3,000, on the condition that the license will comply with all applicable laws, ordinances and regulations pertaining to the licensed activity and that the licensee will indemnify the city and save it harmless from all loss or damage by reason of any act or omission of the licensee or his or her agents or employees.
('82 Code, § 7.113) (Am. Ord. 94, passed 12-13-99)
(B) When a licensee is required to have in force a policy of insurance, the coverage shall be for the term of the license and the policy shall provide that it is noncancellable without a notice of ten days to the city. Satisfactory evidence of coverage by insurance shall be filed with the Clerk before the license is issued.
('82 Code, § 7.114) (Am. Ord. 94, passed 12-13-99)