Before any license is issued to a pawnbroker under the provisions of this chapter, the applicant for such license shall execute and deliver to the city a bond in the sum of ten thousand dollars ($10,000.00) executed by a corporate surety authorized to do business in the state and conditioned upon the faithful performance of such licensee of all ordinances of the city respecting pawnbrokers. (Document, 1984; amd. 2007 Code)