The labor and material bond shall be taken in the name of the City for the use of each and every person furnishing materials or performing labor under or in connection with the contract, conditioned on the payment to each and every person furnishing materials or performing labor for the construction of any sum or sums of money due him for such labor and/or materials for which the contractor is liable, and shall not be limited to only those claims for labor and/or materials known as "lienable claims, " but shall include all claims of every nature for labor and/or materials arising from the contract and for which the contractor is liable.
(Ord. 444. Passed 5-15-28.)