1456.05  BOND REQUIRED.
   The applicant shall file with each application a bond in favor of the City, with good and sufficient sureties acceptable to the City, in a penal sum of five thousand dollars ($5,000) for each acre or fraction thereof, but not to exceed two hundred fifty thousand dollars ($250,000), conditioned upon prompt and complete compliance with all of the provisions of this chapter and with any and all rules and regulations adopted by Council pursuant hereto.