Every applicant for a permit for the erection of a sign to be erected within 10 feet of any public way shall file with the building commissioner a continuing bond in the penal sum of not less than $5,000, executed by the applicant and surety company subject to the approval of the city attorney, and conditioned for the faithful observance of the provisions of this chapter and all amendments thereto, and of all laws and ordinances relating to signs and other advertising structures, and which shall indemnify and save harmless the city from any and all damages, judgement, costs or expenses which the city may incur or suffer by reason of the granting of the permit. Any person lawfully maintaining a sign or other advertising structure regulated by this chapter at the time of the enactment of this chapter shall, within 30 days after the enactment, comply with all the provisions set forth in this section. A liability insurance policy issued by an insurance company authorized to do business in the State of Illinois, conforming to this section, any be permitted in lieu of a bond.
(Ord. 90-32, passed 10-2-90)