Each applicant for a permit for a going-out-of-business, removal of business, fire and other altered goods sale or sale of a similar character shall execute and file with the Mayor or designee a good and sufficient bond in the sum of two thousand five hundred dollars ($2,500) with two (2) or more sureties thereon who shall be freeholders within Cuyahoga County, or with the surety thereon a surety company authorized to do business in the State of Ohio. The bond shall be to the approval of the Director of Law, shall be conditioned upon faithful observance of all the conditions of this chapter and shall also indemnify any purchaser who suffers any loss by reason of misrepresentations of a sale authorized hereunder. The bond shall continue in effect for a period of one (1) year. The permittee shall notify the Mayor or designee of any suit filed as a result of the operations hereby authorized.
(Ord. 67-1962. Passed 12-3-62; Ord. 153-2021. Passed 12-6-21.)