(A) The cost of the precious metal dealers license shall be $50 per year which is not pro-ratable, but which shall apply as a credit to any occupational license fee due pursuant to any other regulation of the city.
(B) (1) Before engaging in the business of purchasing secondhand items containing precious metals, a dealer shall post a bond with the Clerk-Treasurer in the amount of $l,000, either with a surety company licensed to do business in the Commonwealth of Kentucky, or in cash.
(2) The bond required in this division shall be for a term of one year following the cessation of doing business in precious metals. Such bond shall inure to the benefit of the city, or to any person who shall be injured or sustain damages approximately caused by the failure to comply with the terms of this subchapter by any precious metal dealer, canvasser, solicitor, or other agent or employee of such a dealer.
(Ord. 81-3-7, passed 4-8-81) Penalty, see § 117.99