(A) To guarantee the faithful performance and carrying out of the provisions of this chapter and all other ordinances pertaining to signs, a licensee under this subchapter shall furnish a surety bond in the sum of $10,000, signed by 1 or more sufficient sureties, or a bond in the like amount of some approved corporate surety doing business through a writing agent in the city.
(B) All bonds furnished by a sign license holder in accordance with the provisions of this section shall be conditioned that:
(1) The licensee shall indemnify and hold harmless the city of and from all accidents, damages, liabilities, claims, judgments, costs or expenses caused by any negligence arising from a failure to protect work performed by the licensee, or by any unfinished, unskillful and inadequate work done by the licensee;
(2) The licensee shall be governed by the ordinance of the city pertaining to signs;
(3) The licensee shall pay any fine imposed upon him for violation thereof; and
(4) The licensee will bring the signs to a state of perfection which will comply with this chapter and other applicable ordinances.
(C) The obligee of the bond shall be the city, and action may be maintained thereon by anyone injured by breach of its conditions for a period of 1 year after completion of any electrical work.
(Ord. 3680, § 1, 3-6-2007)