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 five thousand dollars ($5,000.00), executed by a corporate surety authorized to do business in the state of Utah, and conditioned upon the faithful performance of such licensee of all ordinances of the city respecting pawnbrokers. (Ord. 280, 7-7-1998; amd. Ord. 364, 3-21-2000)