(A) (1) At the time of filing the application for transient merchant license, the applicant shall also file and deposit with the County Auditor a bond with sureties, to be approved by the County Auditor, in the penal sum of $750, or three times the value of the goods, wares, and merchandise to be offered for sale or sold, as shown by the inventory filed, whichever sum is greater, running to the county. The bond shall be forfeited and used for the benefit of:
(a) Any purchaser of goods, wares, or merchandise sold by the applicant, if the purchaser is awarded a judgment as a result of a cause of action against the applicant that was commenced within one year of, and that arose out of, the sale;
(b) The operating budget of the County Auditor, if the applicant is found by a court to have violated this chapter, although the amount forfeited under this section may not exceed one-third of the bond;
(c) The county, if the applicant fails to pay all taxes due from the applicant to the county; or
(d) A court in payment or partial payment of any fines that may be assessed by the court against the applicant, his, her, or its agents, or employees, for violation of this chapter.
(2) However, the aggregate liability of the surety for all taxes, fines, disbursements, and causes of action may not exceed the amount of such bond. There shall be no limitation of liability against the transient merchant or the applicant for the license.
(B) In such bond, the applicant and surety shall appoint the County Auditor, the agent of the applicant, and the surety for the service of process. In the event of such service of process, the agent on whom such service is made shall, within five days after the service, mail, by ordinary mail, a true copy of the process served upon him or her to each party for whom he or she has been served, addressed to the last known address of such party. Failure to mail the copy shall not, however, affect the court’s jurisdiction.
(C) The city or any person having a cause of action arising from, or out of, any sale or sales of goods, wares, or merchandise, or against the applicant, may join the applicant and the surety on such bond in the same action, or may sue either such applicant or the surety alone.
(Prior Code, § 111.06) (Ord. 2008-05, passed 9-2-2008)