(a) In entertainments of the second class, the person applying for a license in addition to the license fee shall execute a bond in the sum of three hundred dollars ($300.00) to the City, to save the City harmless from all damages that may be caused to streets, sidewalks, drains and other public property in the production of such entertainment.
(b) Such bond shall be approved by the Director of Finance and no license shall be granted until such bond is given as herein provided.
(1952 Code § 25-5-4)