Each applicant for a license hereunder shall execute a penal
bond to the Village of Oakwood, Illinois, and the State of Illinois
in the sum of $5,000 with a solvent surety company licensed to do
business in the State of Illinois. The Commissioner shall consider
said bond but shall have the right to reject said bond. A new bond
shall be presented with each application prior to issuance or renewal
of any license under the terms of this Part 1, and the terms of each
bond shall be for the calendar year for which the license applies.
Said bond shall be filed as a part of the documentation required
to accompany the applicant's application.
Said bond shall be conditioned upon the faithful observance
by the licensee of this Part 1 and the provisions of all liquor laws
of the State of Illinois, and all laws of the United States of America
applying to the sale, transportation and possession of alcoholic beverages.
Said bond shall be further conditioned upon the payment by the person,
partnership, or corporation bonded to any person or persons entitled
to damages as a result of any sale, occurrence, transaction or injury
which arises from the operation of the business for which the license
hereto applies.
