Every plumbing contractor, employing plumber, or self-employed journeyman plumber engaging in the business of plumbing in the City of Mendota, Illinois, shall cause his name, residence and place of business to be registered with the City. The fee for registration as a plumbing contractor shall be set from time to time by the City Council, and shall be paid by the applicant to the City Clerk in advance upon filing the application. The certification of registration issued thereunder shall expire on the 30th day of April each year. In addition, such persons shall give bond, payable to the City of Mendota, in a sum set by the City Council, conditioned upon the indemnity of the City of Mendota against all damage to the City from all accidents or damage caused by negligence in either the performance, execution or protection of any work done under or by virtue of any permit issued by the City or its Plumbing Inspector, relative to the business in which such person is engaged. This bond must be renewed annually hereafter. Such bond must be signed by two or more competent sureties to be approved by the Mayor and City Council or may be written by a competent surety company licensed to do business in the State of Illinois and shall be filed with the City Clerk.