(A) Before any license required by § 115.01 shall be issued, a person, firm, or corporation engaging in each of the businesses shall execute a bond running to the city, with a corporate surety, in the amount of $20,000, conditioned upon the performance by the person, firm, or corporation of the obligation on their part to be performed under the terms of this chapter, and further conditioned to indemnify and save the city harmless from any liability, loss, or damage resulting from the work undertaken or in the manner of doing the same.
(B) Any person, firm, or corporation engaged in two or more of the businesses enumerated in § 115.01 shall execute only one bond in the amount of $20,000 plus 50%, conditioned upon the performance by the person, firm, or corporation of the obligation on their part to be performed under the terms of this chapter, and further conditioned to indemnify and save the city harmless from any liability, loss, or damage resulting from the work undertaken or in the manner of doing the same.
(C) Prior to commencement of work, the contractor shall file with the City Clerk a certificate of insurance, evidencing that the contractor has obtained comprehensive liability insurance in the amounts of $500,000/$500,000, naming the City of Palos Heights as an additional insured; as well as a certification that the contractor has workers compensation insurance as mandated by the State of Illinois. All Insurance must have an endorsement providing for 10 days' notice of cancellation to the city.
(Ord. O-02-09, passed 1-6-09)