§ 57.03. Surety bond.

(a)

After proper execution of the contract and its approval by the city attorney, it shall be delivered to the department of fire and safety services together with a surety bond in such sum as the fire chief shall in his discretion, and subject to the approval of the city council, deem adequate, said bond to be drawn and approved as to form by the city attorney. Said bond shall be executed pursuant to proper authority by or in behalf of applicant, and by a responsible surety company authorized to do business in the State of Minnesota.

(b)

The conditions of said bond shall be for the payment of all charges which shall become due pursuant to the contract for fire protection, for the reimbursement to the city of all damages to the equipment used in connection with the fire protection furnished to the applicant, and for indemnifying the city, its officers, agents and employees against all claims for injury or damage to persons or property rising from the use of said equipment in furnishing fire protection to the applicant pursuant to the contract, and for the full performance by the applicant of all the duties and obligations assumed under the contract.

(Code 1956, § 205.03)