No person shall engage within the City of Yonkers in the business of outdoor advertising by means of any
sign, as herein defined, until such person shall first have filed with the Commissioner a surety company bond in the penal sum of $5,000, approved as
to form and sufficiency by the Corporation Counsel, conditioned upon the faithful observance of the provisions of this chapter, or of any ordinance hereafter enacted amending this chapter, and
to indemnify, save and keep harmless the City of Yonkers from all damages, liabilities, losses or judgments that may be recovered against the City by reason of the negligent erection, installation, construction or maintenance of any such
sign; nor shall any person cause
to be erected, constructed or maintained any
sign, as herein defined, until such person shall have first filed with the Commissioner a public liability and property damage insurance policy, approved as
to form and sufficiency by the Corporation Counsel, in favor of the City of Yonkers, with or without another coinsured, with limits of not less than $100,000 for personal injury or death
to any one person, and subject
to the same limit for each person in an amount not less than $300,000 on account of one accident, and limits of $5,000 for each accident and $25,000 aggregate injury
to property, arising out of the negligent erection, installation, construction or maintenance of any such
sign, which said coverage in favor of the City of Yonkers may be attached by rider or endorsement
to such liability policy. Said insurance requirements shall not be necessary for wall
signs painted directly on an exterior wall.
[Amended 7-18-1996 by L.L. No. 5-1996]