(A) Every person making application for the issuance of a fumigation or pest control license shall annually file with the Clerk-Treasurer a good and sufficient bond or policy of insurance running to the city in the penal sum of not less that $5,000.
(B) The bond or policy shall be conditioned to indemnify and to save and keep harmless the city from any and all costs or damages which may be sustained by the city, or expense of any kind whatsoever, to which it may be put or which may accrue against the city by reason of the granting or issuance of any of the licenses provided under this chapter.
(C) The bond or policy shall also be conditioned to indemnify any and all persons who may suffer injury or damages to property by reason of improper, negligent, or careless performance of fumigation or pest control work.
(`81 Code, § 116.16) Penalty, see § 10.99