Every applicant for a license under this chapter shall file with the village a license bond in the penal sum of one thousand dollars ($1,000.00), approved by the village administrator, with the village as obligee, conditioned upon the faithful and due performance of the provisions of this chapter and the laws of the state concerning the operation of the licensed business and the payment of all fines and penalties by reason of the violation thereof. (Ord. 2014-1418, 11-4-2014; amd. 2016 Code)