(A) No license shall be issued or effective unless there is on file with the Village a cash bond or a bond with a corporate surety in the penal amount of $100,000 to assure that:
(1) The licensee, his or her agents and servants will comply with all of the terms, conditions, provisions, requirements and specifications contained in this subchapter.
(2) The licensee, his or her agents and servants will faithfully operate the landfill operation for which the permit is issued in accordance with the provisions of this subchapter.
(3) The licensee, his or her agents and servants, will save harmless the Village from any expense incurred through the failure of the permittee, his or her agents and servants, to operate and maintain the landfill operation as required by this subchapter, including any expense the Village may be put to for correcting any condition or violation of this subchapter or from any damages growing out of the negligence of the permittee or the permittee's agents or servants.
(B) Before acceptance, all bonds shall be approved by the Board of Trustees. If a corporate bond is offered, it shall be executed by a company authorized to transact business in the state of Illinois as a surety. If a cash bond is offered, it shall be deposited with the Village Treasurer, who shall give his or her official receipt therefor, reciting that the cash has been deposited in compliance with and subject to the provisions of this subchapter.
('73 Code, § 16½-4) (Ord. 73-1042, passed 1-18-73)