All operation of and the conduct of lotteries shall be under the supervision of a single lottery manager designated by the organization. The manager shall give a fidelity bond in the sum of an amount equal to one-half the maximum value of prizes or chances to be sold, whichever is greater, to the city in favor of the organization conditioned upon his honesty in the performance of his duties. Terms of the bond shall provide that notice shall be given in writing to the licensing authority not less than thirty (30) days prior to its cancellation. The Village Manager may waive the bond requirement by inducing a waiver provision in the license issued to an organization under this section, provided that a license containing such waiver provision shall be granted only by a majority vote of the Board of Directors of the licensed organization.
(Ord. 1672. Passed 7-25-18; Ord. 1677. Passed 9-10-18.)