If the Planning Commission finds that a special permit to erect and maintain a subdivision identification sign in a residence zone should be issued, the Commission may make the permit, when issued, subject to reasonable conditions, and shall, before such permit is issued, fix the amount of a bond to be filed by the owner of the sign with the Clerk-Treasurer, who shall approve such amount prior to the issuance of the permit. The bond shall be executed by the owner and by a corporate surety authorized to do business in the State. The bond shall be payable to the City to reimburse the City for any damage the City may sustain if the owner, its successors or its assigns fails to construct and maintain the sign, or any part thereof, in compliance with Chapter 1272 (including, but not limited to, reasonable expenses the City may incur in obtaining or attempting to obtain compliance by the owner, its successors or its assigns with Chapter 1272, whether through or without litigation). The condition of the bond shall be that the owner, its successors and its assigns shall erect and maintain the sign in compliance with the requirements of Chapter 1272. Otherwise, the bond shall remain in full force and effect.
(Ord. 1049. Passed 2-26-85.)