Any such property owner shall deposit with the Director of Finance the sum of two-hundred and fifty dollars ($250.00) in cash or U.S. bonds with the application hereinafter referred to; or shall furnish the City with the application hereinafter referred to, the certificate of some proper fire insurance company authorized to do business within the State, wherein it is agreed that the obligation on the part of such property owner to pay for fire-fighting service to be rendered, shall, up to not less than three full hours of service be paid to the City by such company, in the event the City apparatus is called into service during the period or term of such contract; provided, however, that the foregoing shall not be required of the State of Ohio or any county or township of the State.
In the event the property owner deposits money as herein permitted, the Director of Finance shall accept the same, give his receipt therefor, and shall hold the same conditioned on such property owner complying with the terms of Section 955.05.
Moneys so received shall be deposited by the Director of Finance in the City Treasury to the credit of such property owner. At the termination of the contract, such moneys so deposited shall be returned to the property owner who deposited same, after deducting any charges due the City.
(Ord. 82-118. Passed 3-23-82.)