The Director of Finance shall, before he issues such duplicate certificate or certificates, require the person making such application to enter into a bond, with security to be approved by him, in double the amount of such certificate or certificates. City Code, 1879, art. 46, §6 1893 art. 47, §6 1927, art. 43, §7 1950, art. 34, §3 1966, art. 5, §16 1976/83, art. 5, §16 Ord. 46-406