Every person, firm or corporation applying for a permit under this subchapter shall submit with his or her application a bond with a lawful corporate surety to be approved by the City Council, conditioned on his or her compliance with all the provisions of this subchapter and agreeing to pay and holding the city harmless from any claim which may be made against it by reason of the occupation of any street, alley, sidewalk or other public place by the building or structure moved.
('72 Code, § 151.052)