No person shall move or raise any building within the city, move any building over
the streets, avenues, or alleys of the unified government, or move, raise, shore up,
or hold up brick fronts of any building within the city until such person has given
bond to the unified government in the sum of $500,000.00, with good and sufficient
security to be approved by the unified government board of commissioners, conditioned,
among other things, that the principal shall pay any and all damages which may be
caused to any property, public or private, within the city when such injury or damage
shall be inflicted by the principal or his agent, servant, employee, workman, contractor,
or subcontractor. Such bond shall be conditioned also that the principal will serve,
indemnify and protect the unified government from all liability, and that such principal
will, in all respects, comply with the ordinances of the unified government in regard
to the removal of buildings. The form of such bond must be approved by the unified
government chief counsel.