(A) Every applicant for a transient dealer’s license shall execute and file with the City Clerk-Treasurer a good and sufficient bond in the sum of $1,000 or 10% of anticipated sales, whichever is greater, with the surety thereon held by a surety company authorized to do business in the state and approved by the Clerk-Treasurer. The bond shall be payable to the city to the extent that any taxes or fines determined by the Clerk-Treasurer to be due are not paid, upon judicial determination, to those authorized to file suit thereunder.
(B) The conditions of the bond shall be the faithful observance of this section, and the payment of city, county, and state licenses, sales, use, income, or occupational license taxes due or to be withheld and paid by the licensee hereunder. The bond shall indemnify any purchaser at such sale who suffers any loss by reason of defective merchandise or any misrepresentation in the sale.
(C) The city, county, and state may file suit in their own name against the licensee or the surety on the bond for any taxes, fees, or fines due from the licensee which are not paid within 30 days of the termination of the sale and any purchaser at such sale may maintain an action against the licensee or the surety for claims arising from such a sale.
(D) The bond shall continue in effect for one year after the termination of the sale for which it is made and until all actions are concluded and the judgment or judgments, if any, have been paid and fully satisfied, or the amount of the bond exhausted by such payments.
(E) The bond shall be in addition to all deposits required under other ordinances of the city, including, but not limited to, the sales and use tax ordinances. The above bond and certificate of qualification to do business in the state shall be public records open to examination upon request, and copies thereof shall be furnished on request upon payment of a fee of $.25 per page.
(Ord. 1570, passed 8-6-62; Am. Ord. 2662, passed 7-6-87; Am. Ord. 3230, passed 5-2-94; Am. Ord. 6943, passed 2-21-23)