Before issuing any license the city recorder shall require of the applicant a bond in the penal sum of one thousand dollars issued by a surety company authorized to do business within the state, such bond to be approved by the city attorney and to be filed in the office of the city recorder, and to be conditioned that in the installation or erection of antennas, masts or towers or other exterior television or radio equipment or other like apparatus in the city, the principal in such bond will make such installation in accordance with the rules and provisions contained in this chapter and any other ordinance of the city, and conditioned further, that the principal will pay all labor and material claims for any such work and all damages sustained by any person, firm or corporation arising from failure of the principal to make such installations in the manner aforesaid. In case any bond is not renewed upon expiration, or in case a new bond is not furnished by the applicant in the event a former bond is canceled, the license issued the applicant under this chapter shall be null and void. (Ord. 993 §4, 1953)