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At the time of the filing of the application as provided by the preceding section, the applicant shall pay to the Director of Finance an amount established by City Council resolution to defray the expense of acting upon the application and shall deliver to the Director of Finance a bond in a penal sum established by City Council by resolution executed by a responsible surety company, which bond shall be conditioned upon the compliance by the applicant with the provisions of this chapter; upon the accounting to the cosigner or owner for property entrusted to or money received by him or her, and upon the refunding of the purchase price to any person purchasing real or personal property from such applicant at auction, who shall be injured by an unlawful or fraudulent sale by the applicant, upon the return or reconveyance of the property so purchased by such person and a demand for a refund. Such bond shall be subject to the approval of the City Attorney.
('86 Code, § 5.08.100) (Ord. 2449, passed - - ; Am. Ord. 3657, passed - - ; Am. Ord. 3962, passed - - ; Am. Ord. 4587, passed 6-27-11; Am. Ord. 4588, passed 7-11-11)