No license shall be issued until a bond has been filed with the Clerk with sureties approved by said Clerk indemnifying the city against any loss, expense, judgment or damages which the city might incur or suffer by reason of the granting of a permit to erect or install signs, such bond to be in the amount of $25,000 or in such amount as may be determined by the Council. In lieu of such bond, the applicant may file with the city evidence of liability insurance acceptable to the city to be in full force and effect during the period the license is issued, which liability insurance shall be in such amount as may be satisfactory to the city.
(Prior Code, § 8-7-17)