A. Each applicant shall be required to post a continuing cash bond or surety bond in the amount of ten thousand dollars to assure the city of licensee’s full performance of all requirements under this chapter including any past due payments as required under Section 14.12.050. At the expiration of the license period, the cash bond shall be returned to the permittee upon written request therefor or the permittee may authorize said bond to be retained to secure a subsequent license.

B. Licensee shall be responsible for negligent or non-negligent damaging by the licensee of property owned or used by the city and all costs incurred by the city as a result of any failure of the licensee to comply with the terms of the license. Failure to pay damages to the city upon demand shall be grounds for revocation of this license. (Ord. 801-81 § 6, 1981.)