The Treasurer may require any person who is required by this chapter to either collect and remit or to pay the tax hereby imposed to file with the Treasurer a bond or cash deposit, subject to the approval of the City Law Director and the approval of the City Treasurer, and in such amount as the Treasurer may fix, conditioned for the collection and payment of any such taxes due or which may become due from such person. Such bond or cash deposit when approved by the Treasurer shall be deposited in the Treasurer's office. In lieu of such bond or cash deposit, securities approved by the Treasurer may be deposited with the Treasurer and shall be kept as security for the payment of such tax, interest or penalty, or both. The Treasurer may sell any securities so deposited at public or private sale without notice to the depositor thereof, if it becomes necessary to do so in order to recover the amount of such tax, interest or penalty, or both, due or unpaid. Upon any such sale of securities, the surplus, if any, above such amounts so due and unpaid shall be returned to the depositor of the securities.
(Ord. 187-2024. Passed 9-27-24.)