If the Director of Inspection Services is satisfied as to the experience and qualifications of the person or persons named by the applicant, they may issue a permit to said applicant after they have deposited with the Director of Inspection Services, a good and sufficient bond in the sum of not less than five thousand dollars and in an amount to be designated by said Director of Inspection Services in said permit, which bond shall run in favor of the City and shall inure to the benefit of the City and all persons who may suffer any damage, in person or property, from the blasting operations conducted by the licensee, and shall be conditioned to pay for all loss or damage to person or property caused or resulting from said blasting operations by the licensee. (Ord. 4089-NS § 1 (part), 1965: Ord. 1309-NS § 3 (part), 1927)