All operation of and the conduct of raffles within the city shall be under the supervision of a single raffle manager designated
by the organization. The manager shall give a fidelity bond in an amount equal to the aggregate retail value of all prizes
or merchandise to be awarded by a licensee in connection with the raffle, in favor of the organization, conditioned upon the
honesty of such manager in the performance of his duties. The terms of the bond shall provide that notice shall be given in
writing to the city, by filing the notice with the office of the city clerk, not less than 30 days prior to the cancellation
of such bond. Notwithstanding the provisions of this section, no bond shall be required of any raffle manager of a raffle
wherein the aggregate retail value of all prizes or merchandise to be awarded does not exceed $1,000.00.